A couple of friends told me today they are giving up their places for rent. One is renting out his house, another one each room in a 3 room condo.
They came up with these numbers = +150/mth for the house and +250 mnth for condo.
I have no idea if this is good/bad or ugly? How does one decide what he need to make in profit on a place? House/apartment/etc?
Additionally - it seems to me that apartment units is where the money is. having 10 identical cheap apartments that are easy to repair looks like a gravy train. Is this about right? whats the best way to go about it? Should I get 10-15 people in on a deal and buy bulk?
They came up with these numbers = +150/mth for the house and +250 mnth for condo.
I have no idea if this is good/bad or ugly? How does one decide what he need to make in profit on a place? House/apartment/etc?
Additionally - it seems to me that apartment units is where the money is. having 10 identical cheap apartments that are easy to repair looks like a gravy train. Is this about right? whats the best way to go about it? Should I get 10-15 people in on a deal and buy bulk?
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