Home Buying in Hopedale>Question Details

Dongu, Home Buyer in Emeryville, CA

BUYING RENTAL HOPEDALE MA. WILL INCOME COVER EXPENSE WITH 10% OR 20% DOWN. IS IT EASY TO FIND RENTER HOW MUCH RENT FOR 2 OR 3 BEDROOM.?

Asked by Dongu, Emeryville, CA Fri Aug 12, 2011

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Hi Dongu,

I know you are just looking for some ballpark figures here but it is really tough to quote any numbers with respect to market value for rentals. While the rental market is red hot right now, the condition and location will determine what you can expect for a monthly fee. Do yourself a favor and let a local Realtor make this very easy for you!

Best wishes!
0 votes Thank Flag Link Mon Aug 15, 2011
The answer is 10% or 20% down of course it will cover the expenses, if you buy it at a price that will allow you to. So as you see it is not as easy as 10 - 20 - 30 -40% down. Much has do with the requirements of the lender as to downpayment. Typically income property they seek 25-30%.

Is it easy to find a renter. Yes (depends on what rent your asking) the lower the rent the more tenants to choose from.

Rent of a 2 or 3 bedroom will depend on many factors as well........number 1,2,3 don't change, location, location, location and the next 2 don't change either, condition, condition.
0 votes Thank Flag Link Fri Aug 12, 2011
Purchasing as an investment property will require at least 20% down. Actual amount down will be determined by the number of units in the property.
0 votes Thank Flag Link Fri Aug 12, 2011
Dongu,

It really depends on the condition of the rentals, how much you want down on them, location of the building and what is included.

Which building are you looking at?

Amy
508-784-0504
amymullen@remax.net
0 votes Thank Flag Link Fri Aug 12, 2011
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