Deepak described his friends who bought a 500k 3-family-home in Jersey Heights. He lives in 2nd floor and rents out top unit for 2k/M and ground floor for 1.5k/M, so his 3.5k gross rental income more than covers his mtg+tax.
This is inferior to 43R model, at least on paper.
For those two floors, 43R model would create 7 rooms, average $700/room .. $5k/M rental.
š easier to sell due to affordability
š lower rental demand except for retail unit
y I spend SO much time@Defense,carefree,ffree
Peer comparison also spotlights the limitations of my bare-bones ffree, and keep my feet grounded.
My favorite locations are often rental apartments — best connectivity,,,, car-freedom, walkable community ,,,, clean streets.,,, kids/exercise friendly,,,,,
I think it has to do with developer’s economic analysis. Developers want to justify high rent for many many decades, so they must pick the best location in any city, and they bid up land price at that location.
In Chinese-centric cities, those locations would become condo towers for sale. In U.S. renters are willing to pay very high rentals.
Q: given a backyard, what usages do I find valuable?
swimming? too small
basketball? no fun
Many of these usages require expensive set-up, not worth it if used lightly