Hey everyone! We are back with our Best Places Series and today we are going to be talking about the best places to own rental properties in 2019 and probably 2020 as well. I have a bunch of websites and a variety of opinions about this and again, it all comes down to the criteria and weighting factors used in developing the scoring system. Carissa from Macon, GA asked me to explain the weighting factors and what I mean by that. So I will. It comes from the world of statistical analysis. Let’s take for example the Flipping America Property Grade.
Mileage – a factor, but not as important as the profit.
Profit not as important as ROI, but profit still should be above 20k to make it worth your while.
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- We normally meet every Wednesday and Thursday but we are done for the holidays. No meetings in December.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
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Topic: Where to own Rentals
- Population stable – not declining
- Strong middle class employment picture
- Relatively low home prices
- Quality of schools
- Stability of neighborhoods
- Potential long-term upside
- Frieda, Boston, MA, I’m trying to find a rental property to buy based on the numbers you have given and it seems impossible. The best I can do is a home for $300,000 that I can rent for $2,200/month. My payment including taxes and interest is just under 1700. It sounds like $500/month in cash flow. What am I missing?
Motivational Thoughts for the day
- “There is no normal life that is free of pain. It’s the very wrestling with our problems that can be the impetus for our growth.” -Mr. Rogers
Expected Air Date: Thursday 12/2/19