I guess not

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Jun 3, 2023
4:07:27pm

WorfoSAUR All-American

I guess not

I couldn't find a house to rent for less than 1400 in Lubbock a few years ago, but I was looking on the other side of town. I wouldn't ever want to live on the east side. If 500/month is your magic number, probation could put a bit more down and get the rental to 1100-1200.

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WorfoSAUR

Bio page: WorfoSAUR
Joined: Nov 25, 2006
Last login: Apr 17, 2024
Total posts: 11,283 (1,183 FO)

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Messages

Author

Time

Is there a market in america where I can buy a rental for 200k or less and cash

Triznaynay

6/3/23 3:06pm

RE: Is there a market in america where I can buy a rental for 200k or less and

6/3/23 3:06pm

Doubtful. But less you want to put a massive amount down

Nat Gas Man

6/3/23 3:09pm

You mean with no debt? Absolutely there is. If you mean 75% LTV, the answer is literally no chance.

RdF3

6/3/23 3:09pm

Where?

homegrown

6/3/23 3:09pm

If you’re talking paying cash for it, most places in Utah you could find that.

RdF3

6/3/23 3:10pm

Here

WorfoSAUR

6/3/23 3:11pm

Could you really get 1300/month for that? Do you know Lubbock?

Triznaynay

6/3/23 3:15pm

Not sure how accurate but on the listing it says rental value of $1099

Zak

6/3/23 3:30pm

I threw this in Roofstock search.

dwhitebud

6/3/23 3:30pm

I guess not

WorfoSAUR

6/3/23 4:07pm

Taxes and insurance will cost you 600+ a month. You would have to pay cash

johnnybyu

6/3/23 4:27pm

How close is that to Tech?

Dark Forest Green

6/3/23 3:49pm

Taxes and insurance will cost a fortune in texas

johnnybyu

6/3/23 4:24pm

Yes - Here:

BYU Robert

6/3/23 3:29pm

Not sure but here in phoenix/Mesa I’m looking for a rental to purchase for

kotacoug

6/3/23 3:35pm

The rust belt will cash flow but doesn’t appreciate, so…

Iman23

6/3/23 3:43pm

The issue with little appreciation means little rent increases while cost

johnnybyu

6/3/23 4:52pm

how hard are you willing to work at it?

6/3/23 3:53pm

I would say no. Maybe someplace in Midwest if you can to fix up a dive but

johnnybyu

6/3/23 4:25pm

I just bought a rental for $150,000, and it cash flows

volleyjiver

6/3/23 4:30pm

If cash you can make it work. 20% down unlikely. Your rent price ratio

johnnybyu

6/3/23 4:32pm

You mind posting details… what’s the square footage, bed/baths. What’s the

kotacoug

6/3/23 6:45pm

Memphis

ekiben

6/3/23 4:33pm

Easily. 1,000/mo would be a small 5% return. I have 15 in this price range.

Plato

6/3/23 5:11pm

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