All Forum Posts by: Michael Goodman

@Colin G Murphy Thanks for the feedback. Most of them were not turnkey. They all range in the amount of work needed upfront (roof, flooring, kitchen(s), bathroom). I would say the range has been from $5,000-$20,000. If I cut my maintainance assumption in half my return moves up a point.

@Alexander A. & @Mark Shaffar Maybe these do suck. Can you tell me more about your properties. The type of neighborhood they are in and how you come up with your 15% number

@Robert Curls I purchased these properties between 2011 - 2015. 12/15 are SFR 3/2's and 3/12 are condo's that are 3/2.

I own some rental properties in the Tampa, FL area. The homes were purchased for $100,000 - $140,000. The rents are between 1% to 1.2% of the purchase price ($1,000- $1600). The properties are all safe and secure neighborhoods, with some better than others.

The return is in a range between 5.5% and 6.5% (This is the Net Operating Income/(purchase price + rehab cost). I get the NOI from taking all the rental revenue and deducting property insurance, property taxes, HOA fee's, management, vacancy expense (5%-8%), maintenance (10%-20% of revenue)

The bonus of all of this is the appreciation of the properties, but I don't take that under consideration yet because at this point I am a buy and hold investor and I can't guarantee the the value in 5-10 years.

What is everyone's thought on this return number? Is it high? Is it low? Does it suck? All feedback is welcome. Thanks!