The answer to your question depends on the rental price you have in mind. Do you already have a property or are you looking to buy?
We specialize in working with local and out of town investors. We can deliver you the best return for your money.
A couple recent examples of investment property for my clients:
4 bed 2 bath condo that rents for $1500. Purchase price was $113K.
3 bed 2 bath condo that rents for $1300. Purchase prices was $101K.
When you run the numbers and use modest appreciation of 3%, these investors are making over 20% annual ROI.
Nick Rhea, MBA, Broker
Bombora Investments, Inc.