May 29, 2018
Alison Feliciano at 5 Credit Restoration Mark Hall. As always I am going to share some investing tips for you and answer a few questions. Later in the show I’m going to tell you why I prefer RE investing to stocks. But first let’s check some emails. Wrap up with about 7 minutes Open: Mailbag: From Tyler in Tampa, FL. “Roger do you have some guidance for what you would pay for a rental property and where you would buy it?”
- Rent times 60 is almost always a good deal.
- Stable neighborhood or one with upside.
- Avoid chronically bad parts of town. Who wants to live there? Only people who want that lifestyle or who can’t afford to get anywhere else. Our heart goes out to good people who are struggling financially. Been there done that. We can do things to help out in other ways including support for local and national housing charities. But this is business and it is not a good business decision to own assets in areas like this.
- Small low maintenance homes. - brick is great.
- Duplex, Triplex, Quad - usually excellent choices.
- The town doesn’t matter that much to me as long as I can find good property management. I recommend you secure the property manager before you close on the purchase. I also recommend purchasing multiple properties in the same area if possible to get you preferred treatment from the property management.