Home › Forums › Financial Markets/Economics › $300k property $2800 in rent does it work on paper?
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sdrealtor.
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February 20, 2011 at 3:24 PM #669888February 20, 2011 at 3:40 PM #668742
Doooh
Participant[quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
I’m looking for worst case scenarios. We’ll be living n the 1/1, but in the off chance I fall in love with a home in a year or two, I want to feel comfy knowing that renting this one out is a viable option. 10% a year on my investment sound really good at todays rates. I’m hearing I can do better from 2 of you guys and need a little more info to compute it in my head. I’m new at this rental investment game.
February 20, 2011 at 3:40 PM #668804Participant[quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
I’m looking for worst case scenarios. We’ll be living n the 1/1, but in the off chance I fall in love with a home in a year or two, I want to feel comfy knowing that renting this one out is a viable option. 10% a year on my investment sound really good at todays rates. I’m hearing I can do better from 2 of you guys and need a little more info to compute it in my head. I’m new at this rental investment game.
February 20, 2011 at 3:40 PM #669411Participant[quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
I’m looking for worst case scenarios. We’ll be living n the 1/1, but in the off chance I fall in love with a home in a year or two, I want to feel comfy knowing that renting this one out is a viable option. 10% a year on my investment sound really good at todays rates. I’m hearing I can do better from 2 of you guys and need a little more info to compute it in my head. I’m new at this rental investment game.
February 20, 2011 at 3:40 PM #669550Participant[quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
I’m looking for worst case scenarios. We’ll be living n the 1/1, but in the off chance I fall in love with a home in a year or two, I want to feel comfy knowing that renting this one out is a viable option. 10% a year on my investment sound really good at todays rates. I’m hearing I can do better from 2 of you guys and need a little more info to compute it in my head. I’m new at this rental investment game.
February 20, 2011 at 3:40 PM #669893Participant[quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
I’m looking for worst case scenarios. We’ll be living n the 1/1, but in the off chance I fall in love with a home in a year or two, I want to feel comfy knowing that renting this one out is a viable option. 10% a year on my investment sound really good at todays rates. I’m hearing I can do better from 2 of you guys and need a little more info to compute it in my head. I’m new at this rental investment game.
February 20, 2011 at 3:59 PM #668747Eugene
Participant[quote=Doooh][quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
[/quote]Your 300k to $2800/month is 107x.
[quote]I’m hearing I can do better from 2 of you guys[/quote]
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.
February 20, 2011 at 3:59 PM #668809Participant[quote=Doooh][quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
[/quote]Your 300k to $2800/month is 107x.
[quote]I’m hearing I can do better from 2 of you guys[/quote]
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.
February 20, 2011 at 3:59 PM #669416Participant[quote=Doooh][quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
[/quote]Your 300k to $2800/month is 107x.
[quote]I’m hearing I can do better from 2 of you guys[/quote]
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.
February 20, 2011 at 3:59 PM #669555Participant[quote=Doooh][quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
[/quote]Your 300k to $2800/month is 107x.
[quote]I’m hearing I can do better from 2 of you guys[/quote]
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.
February 20, 2011 at 3:59 PM #669898Participant[quote=Doooh][quote=Eugene]107x monthly rent is as low as it gets outside Detroit and Cleveland.[/quote]
Use an example of house price and rent that would get 107x so I can back out the #’s.
[/quote]Your 300k to $2800/month is 107x.
[quote]I’m hearing I can do better from 2 of you guys[/quote]
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.
February 20, 2011 at 4:22 PM #668767PCinSD
Guest[quote=Eugene][
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.[/quote]Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.
I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.
But I’ve looked at rents in that area, and he’s on the high end of the scale. Those rental numbers being quoted sound way too high for a place at that price point. Hell, myself and some other folks would like in on that deal.
February 20, 2011 at 4:22 PM #668829Guest[quote=Eugene][
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.[/quote]Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.
I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.
But I’ve looked at rents in that area, and he’s on the high end of the scale. Those rental numbers being quoted sound way too high for a place at that price point. Hell, myself and some other folks would like in on that deal.
February 20, 2011 at 4:22 PM #669436Guest[quote=Eugene][
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.[/quote]Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.
I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.
But I’ve looked at rents in that area, and he’s on the high end of the scale. Those rental numbers being quoted sound way too high for a place at that price point. Hell, myself and some other folks would like in on that deal.
February 20, 2011 at 4:22 PM #669575Guest[quote=Eugene][
Then maybe I wasn’t clear enough. 107x is very, very low by San Diego standards, in fact, so low that I have to doubt your rent assumptions. For example, the price would indicate low-end area such as Lemon Grove or old Chula Vista. I can’t imagine who’d want to rent a 1/1 granny flat in Lemon Grove for 1100. 800 would be a better guess.[/quote]Yeah, I was thinking about that. Those seem like very high rent numbers for a house(s) that went for $300k.
I just helped a friend renovate a house he bought in Lemon Grove that is now being rented out. He paid $290k, and put another $15k into it. He’s renting it out for $2300. I thought that was a decent return.
But I’ve looked at rents in that area, and he’s on the high end of the scale. Those rental numbers being quoted sound way too high for a place at that price point. Hell, myself and some other folks would like in on that deal.
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