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NGL this thing looks dope

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A very rough rule of thumb with long term rentals is that income should equate to 1% of purchase price. So do you think you could rent a $450k place for $4500/month in 1-2 years when you move out? Simple way to check would be to go on Zillow and filter to “for rent“ and see what places are renting for
M1 please do share, would love to know, in all seriousness.
Atlanta is the fraud capital of the US so be careful
What is tenant fraud?
Subject Expert
What do you have saved for a down payment? What would PITI be for your loan? How much do you pay in rent currently? How much do you expect the house to rent for in 2 years?
This is a simple math problem, but we don’t know the variables in the equation. Only you do.
Op, based on those numbers you can definitely afford it.
To answer whether it’s a good idea to do so.. that depends on
a) taxes insurance mortgage
b) likely rent (for when you move out and convert it to investment)
c) and whether b) is greater than a)
if c) is true, then what % greater.. if it’s more than 5% then it’s a good start. Anything more than 5% is great
Yeah I have attempted to get into the Atlanta rental market several times since 2020 and every time something fell through on the seller side or information came through that made me uncomfortable moving forward. This most recent time it was shady realtors and hidden issues that almost resulted in legal actions. I had my eye on the market for some time and while it is “booming” in a way the culture for me has changed since I lived there 15+ years ago. Personally- I decided to pass for those reasons.