Quote: (02-02-2018 11:58 AM)jbkunt2 Wrote:
Thanks for the info. I am not sure you can get a 1% rent v purchase price in Chicago.
I found this studio for 130k which I can rent for $1,110 - 1,150:
Does this look worth a go?
Disclaimer: I don't know anything about Chicago.
Insurance is really cheap at $237 a year. Is that a US thing? I pay about two grand a year for a policy on a triplex covering full replacement cost for a loss, as well as rental income replacement, liability, etc.
What's the breakdown on monthly fees? This is for repairs and property management? This is your biggest controllable expense and an opportunity to boost your yield if you get hands-on.
If it's condo fees I personally think that would be throwing money out the window.
Why 20% downpayment? What if you put down 10% and buy two? Or 5% and buy four?