The Knowledge Project · How to Get People to Say Yes | Ryan Serhant
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set a personal income target of $2,000 per month to cover rent and used rental commissions to meet it
$2,000 per month
“I don't mind investing in like the worst part of the city because that's where I get the cheapest deals… buy for $5,000, $10,000, $15,000, put money into them and rent them out for a solid rental income”
“Chinese prices start at US$20,000 for the little Neo Firefly with the big battery. But it'll start from US$12,000 if you rent the battery. And then you have an ongoing payment because you're leasing or renting the battery. And that's US$100 a month.”
“At a 5% cap rate, essentially… for every $1 of rental income, we're getting 20 times that in valuation… if the lower it goes, so if it's a 3% cap rate, $1 of rental income is worth $33 in value.”
“I bought it for $8,000... I put in $4,000 worth of work and then I rented it out for $600 a month.”
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