[GittyUP]

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Right now there are deals everywhere. I only go after properties under 250k though. I just bought a triplex for 210k just west of the turnpike. Its renting out for $2900/m. Thats a 16% cap rate plus over 100k equity. I wholesaled a quadplex on US1 by the beach that went for 220k and rented out for $2600. Thats 14% cap rate.

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I am confused. How are you able to buy 210k and rent for 2900 and have 40-45% of cash flow go towards operating expense?

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Debt service/month=approx $1300 month
Operating expenses(insurance, taxes, maintenance) is the the other $1600 I use what I need which is about $1200(or about 41% of the $2900) and pocket the difference.

This was an exceptional deal by the way.