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Anyone in Miami at Art Basel this week or next?
City winery at 5 today? Group hangout?
Prob B passed... thoughts? Next steps?
Anyone in Miami at Art Basel this week or next?
City winery at 5 today? Group hangout?
Prob B passed... thoughts? Next steps?
I have a short term rental that was $300k down but nets $60k a year plus $28k in equity and then appreciation. Seems good or am I missing something?
When I started I was expecting $20k net so it exceeded my expectations. I’m interested in doing it for another property but wasn’t sure what my floor should be for ROI.
Thank you for the thoughtful response. We went into the investment as a vacation home we’d use for a couple weeks a year but then also rent out. So my focus wasn’t just ROI but it was a factor. Now seeing how well it did I was considering another investment property but more focused on pure ROI so helpful to hear others have as a minimum to have it feel worthwhile.
Agree with the thoughts on repairs. Thankfully the roof has a 50 year warranty but there are always tons of things that could go wrong. And COVID taught us the importance of having a cushion in your cash flow to handle unforeseen situations!
I look at $ profit per door (generally over $200) and then 15+% cash return. I self manage so the $ per door is more important to me. A rental might have an amazing % return on paper, but if that is only netting me $100 a month, it isn’t worth the potential stress that a renter could cause me.
Va and Md