I have always been interested in real estate... love watching the "flipping" shows, "House Hunters", etc. I love driving around just looking at houses. Right now, I really have the itch to try my hand at buying rental property but am so nervous about it. I found a small older house in the town next to where I live listed for $89K. I don't even know if I would qualify for another mortgage or not so it might be a moot point... but still the bug is there. That house is being currently rented at $500 a month so at least the place would already have a tenant as I wouldn't need to tell them to leave... oh, voi.
Rental Property?
June 21st, 2007 at 07:46 pm
June 21st, 2007 at 08:48 pm 1182458925
June 21st, 2007 at 09:23 pm 1182461026
June 22nd, 2007 at 02:51 am 1182480710
It came out ahead because;
1. We did all the management ourselves,
2. We did all the repair and maintenance ourselves,
3. We screened our tenants as well as had good luck,
4. We stayed on top of the resident by staying in touch with the neighbors (previously OUR neighbors when we lived there!).
It was a nail biter for me as I was the original owner, but my husband was very good about the whole thing. We had 3 different tenants in 6 years (average turnover 1 every 2 years.)
June 22nd, 2007 at 12:42 pm 1182516123
We had a fenced in doggy run and doggy yard built a few years ago for our Akita when we lived there. Plus, a 15 x 15 "dog house" which is completely covered and situated next to the patio.Her dog is part of the deal, and she's a happy camper too since not too many people are willing to rent to pet owners.