Do you use the 2% rule in Twin Cities area? 1%?
I’m new to real estate investing and just in the information gathering stage, I’ve been reading BP Rental Property investing and am reading up on “the 2% rule” or making sure that a properties monthly rental income is equal to 2% of the purchase price or greater.
I understand that this can be a different number for all markets, so I’m curious if there is a number you use in the Twin Cities area? What number has proven to cash flow well?