- Results 1 to 11 of 11
08-12-2024, 01:48 PM
#1
Lanlording is the juice worth the squeeze?
Is it worth dumping any money saved into housing?
Quote
08-12-2024, 01:49 PM
#2
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.
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.
- OliverHeldens
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- OliverHeldens
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08-12-2024, 01:54 PM
#3
As long as you don’t rent to any joggers or trashy people you should be fine
- Islandboyo
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- Islandboyo
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08-12-2024, 01:57 PM
#4
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.
08-12-2024, 01:59 PM
#5
Originally Posted By Godfrd824⏩
Yeah with a mortgage
Yes. Not as good as it was. But still good. Do you own your home now?
08-12-2024, 02:02 PM
#6
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
Google "house hacking" if you don't already own your own home
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08-12-2024, 02:03 PM
#7
Originally Posted By Basedbaby⏩
That's fine. You can start out renting rooms, if you have a basement with an separate entrance, that's where the money is.
Yeah with a mortgage
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.
08-12-2024, 02:11 PM
#8
Originally Posted By Godfrd824⏩
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 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.
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.
08-12-2024, 02:14 PM
#9
Originally Posted By Basedbaby⏩
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.
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?
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.
08-12-2024, 02:17 PM
#10
Originally Posted By Godfrd824⏩
Myron Is it worth doing with just one?
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.
08-12-2024, 02:25 PM
#11
Originally Posted By Basedbaby⏩
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.
Myron Is it worth doing with just one?
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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