All Forum Posts by: Donna M.

I think a $375,000 single family home should rent closer to 1% of the purchase price. If you are paying $300,000 you should at least get close to $3000 per month by the 1% rule. These tenants have a lease so you don't even have an opportunity to raise the rent.  They will leave if you raise it even to $2800 when the lease is up. Did you check the rented amounts of other $375,000 SFHs in the area?  I would not buy from a family member. Unfortunately, even if you are trying to help her out, that will always comes back to bite you.  Have her find another buyer or keep it and raise the rent next lease and qualify new tenants. Buy your own investment,  you will be happier and learn from your own mistakes,  not try to correct your sisters.