How a Florida Investor Secured Cash Flow with a Three-Condo Portfolio

The Garbers found their target on LoopNet, where the $3,675 in combined monthly rent immediately signaled potential. By securing a commercial loan with a 25% down payment, they invested $113,548 to acquire the units, which are located 90 minutes from their primary residence. Despite the distance, the couple has visited the properties only once in four years, managing 29 total tenants with less than an hour of work per week.

While rising insurance and HOA fees have squeezed margins since the 2022 acquisition, the portfolio remains profitable. The monthly rent has climbed to $4,530, and the 20-year loan structure has allowed tenants to pay down $30,041 in principal. Garber attributes this stability to his strategy of keeping rents slightly below market rates, which minimizes turnover and encourages tenants to maintain the units. Although current interest rates make finding similar 8% to 10% cash-on-cash returns more challenging, Garber maintains that success in real estate starts at the point of purchase, often by identifying under-marketed properties with untapped potential.