{
  "id": 7091425,
  "title": "A Florida investor explains how he bought 3 condos for $360,000 and turned them into cash-flowing rentals using the 1% rule",
  "url": "https://urgent.news/2026/09/13/a-florida-investor-explains-how-he-bought-3-condos-for-360-000-and",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-13T09:40:01.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/real-estate-deal-analysis-florida-investor-breaks-down-the-numbers-2026-9"
  },
  "original_language": "en",
  "account": "Ted Garber, a Florida investor, bought a portfolio of three condos for $360,000 in 2022. He chose the properties because their combined monthly rent of $3,675 was just over 1% of the purchase price, satisfying the 1% rule for potential cash flow. Initially listed for between $390,000 and $400,000, Ted negotiated a lower price. He financed the $113,548 investment with a 20-year commercial loan at approximately 5.5% interest, putting down 25%. Over four years, the portfolio's rent increased to $4,530, while expenses rose, reducing returns. However, the tenants have paid down $30,041 of the loan, building equity. Ted prefers to keep rents at or slightly below market, believing it leads to less turnover and happier tenants. Despite higher interest rates and property values, he continues searching for deals with good cash flow and equity potential.",
  "summary": "Ted Garber broadened his search for cash flowing properties when he couldn't find what he wanted closer to home. He shares the numbers behind one deal.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}