Hey everyone! We are back with our Best Places Series and today we are going to be talking about the best places to own rental properties in 2019 and probably 2020 as well. I have a bunch of websites and a variety of opinions about this and again, it all comes down to the criteria and weighting factors used in developing the scoring system. Carissa from Macon, GA asked me to explain the weighting factors and what I mean by that. So I will. It comes from the world of statistical analysis. Let’s take for example the Flipping America Property Grade.
Mileage - a factor, but not as important as the profit.
Profit not as important as ROI, but profit still should be above 20k to make it worth your while.
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News:
Fed Cuts Rate for Third Time This Year, Hints at Pause
https://www.realtor.com/news/real-estate-news/fed-cuts-rate-for-third-time-this-year-hints-at-pause/
Multifamily Investors Are Spending More Capital in Secondary and Tertiary Markets
https://www.nreionline.com/multifamily/multifamily-investors-are-spending-more-capital-secondary-tertiary-markets
Closing on a House: 10 Common Problems to Spot in a Final Walk-Through
https://realestate.usnews.com/real-estate/articles/closing-on-a-house-10-common-problems-to-spot-in-a-final-walk-through
What’s the Impact of Nearby Transit on Office and Multifamily Property Values?
https://www.nreionline.com/finance-investment/what-s-impact-nearby-transit-office-and-multifamily-property-values
Most U.S. Home Building Primarily in Millennial Areas in 2019
https://www.worldpropertyjournal.com/real-estate-news/united-states/atlanta-real-estate-news/real-estate-news-national-association-of-home-builders-home-building-geography-index-hbgi-single-family-housing-production-data-for-2019-robert-dietz-11707.php
Topic: Where to own Rentals
Our Criteria
- Frieda, Boston, MA, I’m trying to find a rental property to buy based on the numbers you have given and it seems impossible. The best I can do is a home for $300,000 that I can rent for $2,200/month. My payment including taxes and interest is just under 1700. It sounds like $500/month in cash flow. What am I missing?
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Motivational Thoughts for the day
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“There is no normal life that is free of pain. It's the very wrestling with our problems that can be the impetus for our growth.” -Mr. Rogers
