Homeowner · Takoma Park, MD · Member since 2008 · 35 posts · 0 votes
I am just curious. Where I live, if I were looking at residential properties (below 4 units), average sale value would be anywhere above 150 times of monthly rent. It is not untypical to find over 200 times. I sometimes hear that people can buy a house for less than $100k and can get more than $1000 on rent. Is it real in some parts of the US? What kind of place is that?
Any major metro area is going to be high priced. I live about an hour outside of the Atlanta metro area and there are pleny of homes that sell for 100K - 120K that will rent for $800-$1000 a month. I read so many posts discussing houses that cost 300K - 500K to purchase a fixer-upper. I am so glad I live in an area that is resonably priced!
I just lost a house in a sale that sold for 80k that would command 1200/ month. I offered 90K. I knew I got the shaft. Turns out the seller is the mother of the listing agent and the buyer was the listing agent's boss.
Wholesaler · Amarillo, TX · Member since 2008 · 1k+ posts · 659 votes
19y
In my area, you can find houses for $40K that will rent out for $800 a month. You might want to check out http://forums.biggerpockets.com/viewtopic.php?t=5201 for more info on this topic.