Insightful video 👍 your first property purchase of $34k and rental return for $700pm is amazing yield , you mentioned 7 other properties similar prices , can you get those types of deals still as the sites and examples you showed were all $100k/$200k + listings which is a totally different financial risk ? I'm curious as my thoughts as a UK residential landlord, I would avoid the cheap houses in the north of UK for under £100k as the type of tenants and low rent even though high yield isn't worth the headache ... The repairs are the same to replace a kitchen in a £75k house and a £200k+ house , but depending on location and price of rent attracts a different class of Tennant? Does the same applies in us ?
Hi Richard, the deals are available still in the states but getting seller finance is harder now than before as the market has been a sellers market like we've seen over here. But the market conditions are changing right now in the US to a buyers market so there will be deals to be done and you can then start to be more creative. That one for example was an off market property which you would only find by talking to agents. On the tenant questions, yes the same applies in the US. The type of tenant for example in that property was not great and would typically be a section 8 tenant which is someone who gets subsidy from the goverment on the rent payment up to 100% paid. They never look after it and you get a big rehab bill when they leave. You need to own at least 10 properties to make it work well in the US for cash flow if you look at cheap properties. Good experience but if I had my time again I would go for higher end properties to attract a better tenant who would look after it with a family.
loving these videos!
Insightful video 👍 your first property purchase of $34k and rental return for $700pm is amazing yield , you mentioned 7 other properties similar prices , can you get those types of deals still as the sites and examples you showed were all $100k/$200k + listings which is a totally different financial risk ? I'm curious as my thoughts as a UK residential landlord, I would avoid the cheap houses in the north of UK for under £100k as the type of tenants and low rent even though high yield isn't worth the headache ... The repairs are the same to replace a kitchen in a £75k house and a £200k+ house , but depending on location and price of rent attracts a different class of Tennant? Does the same applies in us ?
Hi Richard, the deals are available still in the states but getting seller finance is harder now than before as the market has been a sellers market like we've seen over here. But the market conditions are changing right now in the US to a buyers market so there will be deals to be done and you can then start to be more creative. That one for example was an off market property which you would only find by talking to agents.
On the tenant questions, yes the same applies in the US. The type of tenant for example in that property was not great and would typically be a section 8 tenant which is someone who gets subsidy from the goverment on the rent payment up to 100% paid. They never look after it and you get a big rehab bill when they leave. You need to own at least 10 properties to make it work well in the US for cash flow if you look at cheap properties. Good experience but if I had my time again I would go for higher end properties to attract a better tenant who would look after it with a family.
👍
Thanks 😃