Maybe this is neither here nor there, but if you go to street view, they copied and pasted that house over and over again. At least they’re not little shoebox sized/shaped lots like they usually are now.
Speaking of going quickly, I really liked this. Would be pushing my budget. For my own financial well-being, I’m glad someone else seems to have jumped on it!
https://www.zillow.com/homedetails/20-Pine-Grove-Blvd-Russell-PA-16345/78778165_zpid/
I like to estimate high on repairs 10%, vacancy 5%, cap ex 6% or so. Again I’m conservative when it comes to these things hence why I exited the rental game. You really have to own a huge portfolio to make things work now imo. Especially if you’re an out of state investor and hire out to management.
Don’t care, it’s probably trash as a rental lol. I recommend getting a condo or a townhome in NJ as an investor. SFH detached rarely make sense in SJ, they appreciate slower and are harder to rent out compared to 2 bed and 2 baths.
That seems like an area that was likely 250k for that house a couple years ago. I wouldn’t buy rentals in an area without a major city close by or at least some form of corporations.
I’m not sure I would say sfr appreciates slower but they’re def easier to rent and maintain. Hoa fees usually keep appreciation in check, so all depends on how fast that’s rising. And they’re def going up faster than inflation it seems. When rates were 3% 300 hoa is like 100k of extra mortgage you could qualify for.
Hmm… Didn’t think that they’d appreciate slower than TH/Condos – That hasn’t been the case in most areas I’ve considered over the years, but TH/Condos are cheaper and have more potential to cashflow if the dues are reasonable.
Honestly, I would go at least 5 to 10 units now. I have 20+ doors that are very well diversified but I also stopped picking up rentals a while back. I’ve reached the point where I have a life work balance again while posting terrible memes on LH while pissing off max g with every single payment I make.
I currently rent, so that would have been a primary residence for me. When I’m not traveling, I work from home, so that’s exactly the sort of thing I’m after.
If I did want to get into rentals, I’d probably try to steal something like this. Been on the market so long, and things seem to be trending downwards… I feel like I could negotiate a more compelling deal.
https://www.zillow.com/homedetails/121-E-5th-Ave-Warren-PA-16365/78780193_zpid/
I’ll take 8% yearly on that?
Let me wire you the $
I’m afraid of tenants that can’t just buy their own house for 100k. They usually wind up being a disaster. if doing low income housing you need to go section 8 and own 100 of them. Then it makes sense
My man, you really like houses out in the boonies lol.
That is a fair point… I have little sense for this sort of thing. It does interest me though. I have a family member that has many properties. Recently did join a management group, became too much for him.
My man, you drive a toyota, we know you got no cash!
What about tenants who rent a $53k condo for $800 down in Richmond, VA? I owned that thing for maybe 30 months, had rent coming in about 15 of those months 
When I went down there to meet the real estate agent to sell it, there were 2 homicide trucks at the complex 
Made a baby profit and learned a lot, no regrets lol
This is def nice…for 165. The people that own that should be keeping their 3% mortgage and $1000/mo note and renting it out for $2500. But not everyone wants to be a landlord.
it was 150k 3 years ago… lol. Being a landlord is work. Especially MFH, the amount of stupidity and general immaturity is crazy.
I have a friend that owns about 1000 of those and does very very well. That’s a business of scale though when dealing with that clientele. But you have Uncle Sam guaranteeing your mortgages get paid which is sweet.
And when you have an in house crew with lawyers and contractors to take care of all of uncle sam’s nitpicks and general tomfoolery, life is so much easier too.
I watched it decline from the time I started in real estate in 2003 until I got out in 2021. The first 10 or so years no one really bothered me for mundane repairs. Slowly they started calling about changing light bulbs etc. I wouldn’t want to rent to this next generation, god I sound like a boomer haha
My favorite were the group of girls that had an ant infestation. They collected all their empty wine bottles on top of the kitchen cabinets and never cleaned them out first. Then you have all the people that use those wipes in the bathroom you’re not supposed to flush clogging toilets every months. I don’t miss those days at all
Yeah, it’s just statistics at those levels. I sold it to someone based out of NY who owned like 30 in that complex and a couple hundred around Richmond