Quote:
Originally Posted by jay santos
I used to know this stuff but it's been over ten years since I was involved.
What is an average cap rate for residential single family rentals or maybe a duplex? Nationwide? And Provo area? What's the best you could do if you were smart and selective in the Provo area?
I'd like it calculated conservatively with realistic vacancy and rents and a fair amount towards maintenance and property management.
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I recently looked into buying some condos at BYU.....south of campus.....go into it with another person and buy 4 of them. I was shocked at how low the rents are there. Seems like it would take a decade for enough appreciation to allow you to refi with any significant equity. Didnt seem worth it so we backed out.
Is there a better area in provo to consider?