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Reply to "$400K investment property with $2K monthly rent - worth to buy? How about the 1% Rule? "
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[quote=Anonymous]My condo I paid 290k cash in 2013 and rent it for $2,250. I have no property manager but on board so know what goes on. My common charges are $350 and taxes are $300. So I clear $1,600 a month well maybe $1,550 if you add on insurance I have a few investors in building but all bought cash when units were between 230k and $300k. Once units broke 300k only primary owners bought in building. I get notice when folks take a mortgage as I am treasurer and no investor took a loan. 10x rent roll used to be a winner. I over paid as I paid 290k when 270k was the winner. My building is at 13x rent roll now and we have no investors. They bailed around 23x rent roll [/quote]
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