A Florida investor explains how he bought 3 condos for $360,000 and turned them into cash-flowing rentals using the 1% rule
A Florida investor shares his strategy for purchasing a three-condo portfolio using the 1% rule to ensure positive cash flow. The article details how he successfully managed the properties remotely, proving that out-of-area real estate investing can be viable with the right screening tools.
Why it matters
It provides a practical case study for individual investors looking to achieve passive income through real estate in a high-interest-rate environment.
Florida-based couple Ted and Jamie Garber own more than 20 rental units in Florida. Ted Garber Florida-based investor Ted Garber walks Business Insider through one of his deals. He bought a 3-condo portfolio for $360,000 in 2022. He shares how he financed it and turned it into a cash-flowing asset. Ted Garber did not set out to become a long-distance landlord, but after struggling to find the cash flow he wanted close to home, he broadened his search. Looking at neighboring counties "really opened up the opportunities for us," the part-time investor, who has built a portfolio of Florida rentals alongside his wife, Jamie, told Business Insider. In September 2022, the Garbers bought three occupied condos listed together for $360,000. The properties were about a 90-minute drive from their Florida home.
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