Criteria for future rental properties.
Sunday, January 6th, 2008After my visit to the termite palace yesterday, the real estate agent told me she’d keep an eye open for more property in the area. The question then became: What is your criteria?
My first rental property ended up setting the bar very high. I bought it from a bank, put less than $10,000 into it for rehab and renovation, and rent it to students. Overall, my net cash flow is $345 per month. So I guess those traits could start the list.
1. The property must be within 3 blocks North of the local University.
Talk about narrowing the field! This is probably …
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