Quote:
Originally Posted by Forest
I own 4 properties of which all are rentals homes. One is currently on the market for 190k more than what I paid for it in Sept of 2015. It’s oriced right for the area.
Makes me think back to the early 2000s when house values were going thru the roof in a weekly basis.
So this got me think it may be time over the next 2-3 years to dump all this real estate even though it throws off monthly income of around 3k.
Anyone else heavily invested in RE? What are your thoughts?
|
I prolly shouldn't post this here but if you have homes in "flyover" country, you'll be doing well. In DC, for instance, you'll buy a house for $950,000 and get maybe 4,000 a month.
In Oklahoma rural, you'll buy a house for 45,000 and get maybe 800 a month. You can get a lot cheaper than that and there is always someone willing to rent.
Cities have difficult court systems, rural takes much less to evict if necessary. Most of your tenants can't afford a lawyer anyway.
If you're getting less that 1.5% month, sell and buy into rural right on the edge of city water.
There are people getting 4%/month on all their properties if cash flow with no troubles is what you want.