Quote:
Originally Posted by tblake
Its all about cashflow- are those houses in Minnesota cash flowing? I mean, what is the monthly payment on a 70K house? 600 bucks a month? If you can rent it for more than that, I want some of that action.
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Not including any property taxes, closing costs, and assuming 0 down.
70k on a 30yr fixed at 6.25 would be 431.00 per month.
So if rents are above 520.00 a month typically that is a great market right now. Specially if you can justify a standard 3% per year rent increase.