We have 4 rentals, renting from $500 to $720/month. After managing them ourselves for about 3 yrs, we turned it to a management co. Well, he is worth his charge! After he took over, for the first time, all 4 are rented, and 1 of the 4 even had a rent increase.
Our yearly gross rent income (before taxes, insurance and expenses) over property purchase price is a little less than 10%. But nowadays, there are rental property on the market that brings over 12% return.
Humm, may be time to buy some more...
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10% is WAY better than any investment in the financial market right now. I think you and Paul are very wise in deciding to have rentals. ~Vicki
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