2 % Rule in Cleveland!

[Brian Garlington]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

The inherited long term tenants decided to leave the property because as the new owner I expected the rent to actually be paid on time (or at least close to it). Their previous landlord is someone who they ran roughshod over. I employed a Professional Property manager that really knows what to do and the inherited tenants voluntarily decided to leave the duplex (in bad shape). The duplex ended up needing a lot of work, yet even after rehab costs the duplex actually meets the 4% rule and it's in a "C" neighborhood.