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Run the numbers and compare in your next sale. As a rule of thumb if you can get 1% of the sale price per month in rent you’re doing awesome. And a good proper
by mrfusion 8y ago
Run the numbers and compare in your next sale. As a rule of thumb if you can get 1% of the sale price per month in rent you’re doing awesome.
And a good property manager should take away 95% of the hassle.
- tunesmith 8y agoYou're saying that if the house sold for $500,000, you should keep it if you can rent it for $5,000 / month or more? I've heard of 5% of 1/12th of the projected sale price, which seems more realistic.
- mrfusion 8y agoYes $5000/month would make that a great property. Look up the one percent rule. There are lots of other things to consider but it’s a great quick rule of thumb.