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The Water Cooler
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For those of you who own rental property in OK...
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<blockquote data-quote="bigfug" data-source="post: 3233120" data-attributes="member: 4864"><p>There's a 2 year college, but no real colleges in Moore. All of our homes range from 1366-1988sq ft. We do around $1 a foot OR 1% off purchase price, depending on size, condition, age, and what the market will hold. Has to meet at least one of those two criteria for us to purchase/consider it. The one renting for 1k is 1665 sq ft, and was purchased for around 91k, and has had the same tenants in it for 5 years, so obviously not gonna raise the rent on them, but if it opens up, our next lease will be higher, probably closer to $1200, but at the time, that was above our 1% per month based on purchase price.</p></blockquote><p></p>
[QUOTE="bigfug, post: 3233120, member: 4864"] There's a 2 year college, but no real colleges in Moore. All of our homes range from 1366-1988sq ft. We do around $1 a foot OR 1% off purchase price, depending on size, condition, age, and what the market will hold. Has to meet at least one of those two criteria for us to purchase/consider it. The one renting for 1k is 1665 sq ft, and was purchased for around 91k, and has had the same tenants in it for 5 years, so obviously not gonna raise the rent on them, but if it opens up, our next lease will be higher, probably closer to $1200, but at the time, that was above our 1% per month based on purchase price. [/QUOTE]
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