Property update – property appraised for 56K. Banker wants me to have some skin in the game since it is a commercial property and I have to have $1,600 down. I think this deal is going to be a cash cow!
I love reading your thoughts and inputs. Thank you for your insight.
If you had it all to do over again, what path would you take (single family rentals, multi-family rentals 3-4 units, flips, etc.)?
I like using a percentage, such as Mike’s 2% rule. Around here, I can get 3%. After losing some rentals in the past, I realized the importance of a strong cash flow. The 2% rule fits the bill for me. My current rentals are 3%+.