[jIM_Ohio]

I have a Real estate plan... much short of a "business model", which I am starting to set aside money more.

Involves renting out townhomes/condos in our area.

Plan involves a group of ~5 people working together

a) 1 realtor to find properties/ know how much something is worth
b) 1 real estate attorney to handle lease agreements
c) 1-2 handyman for electric, plumbing, hvac work
d) 1-2 others which could do grunt work (painting, assist handyman, interview tenants, collect rent, other)

I am d)... I know how to make money and turn a profit with the best of them... but I realize I need help. If furnace went out, I'd have to hire someone to do this...

We could buy 1-3BR condos in area for ~$100,000 and I think we could rent a 2 BR for ~$900. The P&I is ~$660/mo. I THINK we could pay taxes and the people involved each month with remaining $240.

Assuming this group handled 3-7 properties, I think this would become quite profitable. ASSUMING there is demand to rent (there are not many apartments in our area). Schools are good, though... so that might be an appealing factor.

This would require a $25000 initial investment for property 1 (20% down), then we could leverage the first property for cash to acquire others.

Curious what numbers look like for others when playing landlord?