New to BP Nate from San Antonio
Hello everyone! I just came across this website in the last week or so and have become hooked. I just graduated from BYU with a Bachelors Degree in Facility & Property Management and I love it.
I am currently in the process of opening up a property management company in San Antonio and am eager to finish up the details in that and begin my investment ventures.
I am very interested in getting my first rental property within the next 18 months (Got to pay off some school debt first) and am impressed with the support I have seen on here for others starting out.
Even grduating from a property management and real estate centered degree I was not familiar with some of the property evaluation techniques i.e. the 50% 2% rule though we reviewed CAP rates and rent multupliers repeatedly. This 50% 2% rule has now eliminated a lot of deals I thought were prudent and cash flowing.
How has the 50% expense criteria held up in actuals? I assume this is high to mitigate risk and maximize cash flow but am curious if anyone has had success with properties that are slightly under this criterion.
Thanks! I look forward to learning much more about real estate investment.