OfflineI am looking to purchase a couple of dozen SFH with tenants in place. I will need to finance 20K on each property for a 5 year term. Just trying to get a feel of what people in the industry think about that. Reply and let me know what your suggestions are.
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First, we refer to houses as SFR (Single Family Residence), not SFH (Single Family House); just thought you might like to know.
Secondly, you haven't given enough information for me to give you an opinion. Here is what I'd need to know: a) you mentioned financing $20K on each, but you didn't tell us your purchase price. b) will they need to be fixed up? If so, how much will that cost? c) What will be their ARV (After Repair Value) of the properties? d) are they in a good condition? e) what is the net rental income? f) what will be your monthly payments?
So, you see that there are a lot of factors involved. If you wish, send me the answers to these questions and I will give you my opinion.
Good luck.
In fact, here is a quote from Realtor.com:
Single family home sales increased 4.6% from November and rose 4.3% above the level seen in December 2010 while the median selling price declined 2.5% below the level seen in December 2010.
Here is a quote from a real estate firm in Phoenix:
A single family residence, or single family home, is the easiest to define in Arizona. Single family residences are detached homes, usually with both a front and back yard, driveway, and attached carport or garage.
Both are used in different parts of the country so don't worry about it. SFH is the preferred acronym at our firm, FYI.
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