RE: I Checked Out A Potential Investment Property Today
The 1% rule means that the price you paid for a property should get you a gross rent of 1% of that amount per month.
I didn't know that rule.
I remember that a few months ago I was presented with the possibility of buying 39 homes, with three bedrooms and 2 bathrooms each, they were not very big, but they were only selling them for $ 450 each. The total price for the 39 homes was around $ 17,550, it included a small pool, and some other recreational spaces.
My intention was to buy all the houses and rent them, but it was not profitable. I did not have the money, and it would be impossible to recover the investment through rent in the short and medium term, much less in the middle of the crisis.
Here some photos:
I hope you can invest and recover your money, the property you showed seems to be good.
I invest in rental properties and often post about it on my steemit blog and my scaredycatguide website. Boy, I was I'd been around for that 39 property deal you had an opportunity at. Can't find much like that anymore.
Scaredy, these are in Venezuela so that's why they are so cheap.
Certainly, a great potential return once the current government is thrown out of office. If real estate deeds are honored after the transition as well.
Oh man, wow. Never would have guessed, high risk high reward.
Exactly, it is as you say, if I buy some property now, and the government is overthrown, I would probably make good money for my investment in a short medium term, but I guess it is a bet, everything depends on politics.