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!
and I am so envious. I live in a latter type area where you shouldn't be...
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.
But, yes it can be had in this area.
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.
the link you showed me took me to a great discussion site. thanks! very useful
That's what we're here for. :D
In my area you can find duplexes that will bring in 1000.00 for 80K and four family units for about the same. Tenets pay for heat.