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Forum » Lanlording is the juice worth the squeeze?
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Thread: Lanlording is the juice worth the squeeze?

post 1704927151 08-12-2024, 02:48 PM
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Lanlording is the juice worth the squeeze?

Is it worth dumping any money saved into housing?
post 1704927231 08-12-2024, 02:49 PM
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At today's prices? Debatable.

If you can get a good deal on a 2 Bedroom house and easily convert it into a 5 bedroom or something like that, it works much better.
post 1704927461 08-12-2024, 02:54 PM
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As long as you don’t rent to any joggers or trashy people you should be fine
post 1704927701 08-12-2024, 02:57 PM
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Yes. Not as good as it was. But still good. Do you own your home now?
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704927791 08-12-2024, 02:59 PM
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Originally Posted By Godfrd824⏩
Yes. Not as good as it was. But still good. Do you own your home now?
Yeah with a mortgage
post 1704928001 08-12-2024, 03:02 PM
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Gonna be real tough to find a deal that makes the numbers work right now, at least for standalone houses

Google "house hacking" if you don't already own your own home
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1704928021 08-12-2024, 03:03 PM
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Originally Posted By Basedbaby⏩
Yeah with a mortgage
That's fine. You can start out renting rooms, if you have a basement with an separate entrance, that's where the money is.

The cheapest way to do this is to buy another house to live in, and rent your current one. This bypasses the 20% down needed for an explicit rental property. If you have been renting rooms for 2 years, you can use that income in debt to income calcs.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704928431 08-12-2024, 03:11 PM
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Originally Posted By Godfrd824⏩
That's fine. You can start out renting rooms, if you have a basement with an separate entrance, that's where the money is.

The cheapest way to do this is to buy another house to live in, and rent your current one. This bypasses the 20% down needed for an explicit rental property. If you have been renting rooms for 2 years, you can use that income in debt to income calcs.
That’s what I would do but I ran the numbers and if I rented my house out now after mortgage I’d only be making $400-$500 a month not including any repairs I would have to make. Is it really worth letting a stranger live in your house and tear up your stuff for just for $300-$400 a month?
post 1704928561 08-12-2024, 03:14 PM
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Originally Posted By Basedbaby⏩
That’s what I would do but I ran the numbers and if I rented my house out now after mortgage I’d only be making $400-$500 a month not including any repairs I would have to make. Is it really worth letting a stranger live in your house and tear up your stuff for just for $300-$400 a month?
That's the reality of it. But you're also building equity. One house is nothing, 10 is a decent living, and 100 and you'll be a mogger. Even if after repairs and such you're only breaking even, at the end of the day, someone else is paying off your house, and you can cash out later in life with a nice chunk of change.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704928671 08-12-2024, 03:17 PM
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Originally Posted By Godfrd824⏩
That's the reality of it. But you're also building equity. One house is nothing, 10 is a decent living, and 100 and you'll be a mogger. Even if after repairs and such you're only breaking even, at the end of the day, someone else is paying off your house, and you can cash out later in life with a nice chunk of change.
Myron Is it worth doing with just one?
post 1704928971 08-12-2024, 03:25 PM
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Originally Posted By Basedbaby⏩
Myron Is it worth doing with just one?
My first property was a $230k condo I bought in 2016. It was all I could afford at the time. I lived in it until my financial situation improved then bought another home and rented the condo. Today that condo is valued at over $500k, and I make almost $1k from it per month. Every little bit counts.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
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