CASHFLOW - This is the most important aspect of buying rental real estate. Sure there are a few folks that will debate and say to buy in great areas and plan (hope!) for appreciation.
Yes, appreciation is a great thing and one of the reasons everyone loves real estate but it does not consistently pay your bills and get you to financial independence
Buy prices: $115-130k, Rents: $1,150-1,300
Property taxes $1,100-1,800/year
No! I just don't recommend anyone factor appreciation into their investing decisions.
I have actually made a lot of BONUS money in appreciation here. I purchased 50 of these SFH's from 2014-2018 at an average all-in cost of $44k/each. They were appraising on average let's say $70k ARV. These homes are probably worth on average $120k today which is 7% annualized appreciation. Now we know the $9T of "stimulus" that was printed during & after covid caused excessive inflation but the point is this area has appreciation like most.
Everything will usually be brand new, however if items are in great condition and less than five years old they won't be unjustly trashed / replaced. (Roof, windows, kitchens, baths, flooring, electrical, mechanical, paint....)
NOPE! These are in the Akron/Canton and surrounding suburbs market. No section 8. Blue-collar median income tenants. C to B- areas. Exactly what I "retired" on, and still own today.
Yes but maybe not. If you get involved early before the rehab is completed you can certainly be a part of screening if you desire. Traditionally tenants are placed by our vetted property management company that you can keep on board or choose your own / self-manage.
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