All Forum Posts by: Account Closed
Account Closed has started 28 posts and replied 114 times.
Post: Broker Challenge: Find me a $1M+ House - 7-8% Rental Yield
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Russell Brazil:
Sorry youll need to maybe look to a different country to find what you are looking for. Cities with single family homes in these proce ranges will have substantially lower yields than what you're looking for.
So there is no way to be cash flow positive in the US on 1M+ homes today? Is that what you're saying?
Post: Broker Challenge: Find me a $1M+ House - 7-8% Rental Yield
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Bob S.:
BTW unless you have an American address and bank acct, you are not getting a loan, so you have to be cash
Please read my post, it says "Cash in hand and also pre-approved if I go financing route"
Post: Broker Challenge: Find me a $1M+ House - 7-8% Rental Yield
- Investor
- Miami, FL
- Posts 120
- Votes 46
Kind of sad, when I post a "dumb investor" post about it I'm flooded with deals of things I easily ruled out as inflated numbers that don't check out when I do my own comps, but when I post ahead that I will be doing my due diligence all the brokers are quiet. Ha!
Post: Broker Challenge: Find me a $1M+ House - 7-8% Rental Yield
- Investor
- Miami, FL
- Posts 120
- Votes 46
Hey everyone,
Looking to buy LTR in the US. Cash in hand and also pre-approved if I go financing route.
Please keep in mind, anything that is sent to me will go through extensive checks via different resources I have, so please let's be practical and realistic about everything.
Let me know if the below exists today:
Dos
Must be ~A neighborhood, and I hope to be one of the less expensive houses in the neighborhood
Open to renovation - Rather have turn key
Minimum 1M, ideally 1.25-1.5M
Must be off market deal under inflated market
Do nots
No STR / AirBNB based asset - Don't tell me that the asset will make 7% if I AirBNB it
Not in vacation markets!
Not in a market that has appreciated 50% in the last 24 months
Not Multi-Family or Condo
Please do not BS me with comps of different neighborhoods and hypothetical rental yield that based on what the mansion on the beach rented for 2 years ago or what it has been doing on AirBNB.
Only things that can easily be compd to long term rentals
Ready to pull the trigger on a deal, please don't waste my time and I promise I won't waste yours
Below are examples of price to rent I am looking for:
Home price - Rental price
1M - $7,000 / month
1.1M - $8,000 / month
1.2M - $9,000 / month
1.35M - $10,000 / month
1.45M - $10,500 / month
1.55M - $11,000 / month
Post: Cote d'Azur - French Riviera - Anyone have experience?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Has anyone here invested or owns luxury real estate in the French Riviera.
Cannes/Nice/St. Tropez?
Post: Is there a market with 1M+ Houses - ROI 0.70%+ rental?
- Investor
- Miami, FL
- Posts 120
- Votes 46
So far nothing
Post: Is there a market with 1M+ Houses - ROI 0.70%+ rental?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Jack Seiden:
Quote from @Account Closed:
Hey guys,
I am looking to purchase a home (as in 1 home, not multiple) and I am looking for a market where I can purchase an expensive home and still rent it out at least at break even numbers.
Do nots
Not STR / AirBNB based asset
Not in vacation markets
Not in a market that has appreciated 50% in the last 24 months
Not Multi-Family or Condo
Dos
Must be ~A neighborhood, and I hope to be one of the less expensive houses in the neighborhood
Open to renovation
Minimum 1M, ideally 1.25-1.5M
Below are examples of price to rent I am looking for:
Home price - Rental price
1M - $7,000 / month
1.1M - $8,000 / month
1.2M - $9,000 / month
1.35M - $10,000 / month
1.45M - $10,500 / month
1.55M - $11,000 / month
Would be happy to hear some insight to direct me to any market that is even possible to maybe find a deal that can fit that.
Or alternatively burst my bubble :)
You are kind of asking two different questions, are there markets that trade at 7 caps, sure although the higher up in price you go the harder it gets, in my market an 1 million property is probably gonna rent for 5-6k. But even if you could find a 7% cap it still probably wouldn’t cash flow without a huge dp given rates around 8%
I can finance at 6%
Show me where I can get 7% cap at over 1M
Post: CA luxury rentals and top dollar land
- Investor
- Miami, FL
- Posts 120
- Votes 46
Homes in Beverly Hills, as well as in these "luxury" neighborhoods almost always have an extremely low rent-cost ratio. Homes in BH Zipcode rent for an average of 2.5%, which means $2.5M homes rent for $5-6K, you would never be able to BRRR on that. That's why people aren't doing it.
Post: Is there a market with 1M+ Houses - ROI 0.70%+ rental?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Quote from @Brett Deas:
You could find those numbers in certain parts of Denver.
Please send me examples
Post: Is there a market with 1M+ Houses - ROI 0.70%+ rental?
- Investor
- Miami, FL
- Posts 120
- Votes 46
Hey guys,
I am looking to purchase a home (as in 1 home, not multiple) and I am looking for a market where I can purchase an expensive home and still rent it out at least at break even numbers.
Do nots
Not STR / AirBNB based asset
Not in vacation markets
Not in a market that has appreciated 50% in the last 24 months
Not Multi-Family or Condo
Dos
Must be ~A neighborhood, and I hope to be one of the less expensive houses in the neighborhood
Open to renovation
Minimum 1M, ideally 1.25-1.5M
Below are examples of price to rent I am looking for:
Home price - Rental price
1M - $7,000 / month
1.1M - $8,000 / month
1.2M - $9,000 / month
1.35M - $10,000 / month
1.45M - $10,500 / month
1.55M - $11,000 / month
Would be happy to hear some insight to direct me to any market that is even possible to maybe find a deal that can fit that.
Or alternatively burst my bubble :)