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ed and Jamie Garber own 28 rental units spread across 15 properties in Florida’s Space Coast. They began buying in 2020 to build a steady income stream and move toward financial independence. Each unit is treated like a small business: they aim for immediate cash flow and a pay‑back period of three to six years, targeting a cash‑on‑cash return just over 20 % and an overall ROI above 30 %.

    Their “buy box” is simple. They look for homes within their own backyard—Brevard County—so they can manage them easily. The properties must be affordable, not luxury or low‑end, so they can rent at or below market rates and attract a steady stream of applicants. They only purchase when they see a clear bargain: a home that’s been on the market too long, poorly marketed, or needs cosmetic fixes like paint and flooring. Major renovations are off the table; they prefer small lift projects that add value without breaking the bank.

    After spotting a potential deal, they check the 1 % rule: the monthly rent should be at least 1 % of the purchase price. For a $120,000 condo, that means $1,200 a month, though they prefer a buffer—$1,500 or more—to cushion against rising interest, insurance, and condo fees. They use tools like Zillow to gauge local rents and stay ahead of market trends.

    Beyond cash flow, the Garbers benefit from appreciation, depreciation for tax purposes, and tenants essentially paying down their mortgage. Their disciplined approach—buying undervalued, low‑maintenance properties close to home—has let them grow from zero to 28 units in five years, with plans to expand to other markets once the Space Coast market saturates.