A Florida investor explains how he bought 3 condos for $360,000 and turned them into cash-flowing rentals using the 1% rule

Florida-based investor Ted Garber and his wife Jamie bought three occupied condos for $360,000 in September 2022, about a 90-minute drive from their home. It was their first out-of-area acquisition and an experiment in self-managing rentals without being on-site regularly. Garber said they used the 1% rule to turn the properties into cash-flowing rentals.

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