|
|
|
|
1
|
2
|
3
|
4
|
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
|
12
|
13
|
14
|
15
|
16
|
17
|
18
|
|
19
|
20
|
21
|
22
|
23
|
24
|
25
|
|
26
|
27
|
28
|
29
|
30
|
31
|
|
|
|
109 registered members (k bush, 3Gs, imadeerhntr, FurFlyin, Chiller, CrappieMan, CAL, Rainbowstew, Cuz-Pat, Antelope08, !shiloh!, TDog93, XVIII, roll_tide_hunts, jhardy, MarksOutdoors, btfl, Stacey, CatfishJunkie, BradB, DoeNut, GoldenEagle, BentBarrel, sidehitter, jsubrett6, aucivil, Fishhead706, low wall, JohnG, YellaLineHunter, zwick, Turkey, Davyalabama, AJones, misfire, bamacotton, GomerPyle, BCLC, abolt300, BhamFred, DHW, curt99rsv, Mike32, catdoctor, sloughfoot, tombo51, robinhedd, bowkl, Jweeks, deadeye48, Buckwheat, TreeBender, burbank, mashburn, hayman, doc bar, ALMODUX, JCL, ImThere, lukecc, Ol’Tom, Young20, CCC, Alb, sawdust, Pwyse, Vernon Tull, Copes, Standbanger, Mbrock, Atoler, ridgestalker, MoeBuck, leroycnbucks, dagwood, Floorman1, Jay512, brushwhacker, Andalusia, lefthorn, Buckshot77, Paint Rock 00, Turkey Petter, Bulls eye, DEADorALIVE, Skullworks, buzzard, BD, weatherby, doghouse, Fishbones, kyles, KnightRyder, Bushmaster, apolloslade, Lonster, JAM, Parker243, jmj120, hoggin, 9 invisible),
1,151
guests, and 0
spiders. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Re: Another rental house question
[Re: bloodtrail]
#2876254
08/11/19 09:26 PM
08/11/19 09:26 PM
|
Joined: Dec 2018
Posts: 2,070
Alabama
strikeu
8 point
|
8 point
Joined: Dec 2018
Posts: 2,070
Alabama
|
The rule of thumb for rental properties is typically at minimum 1% of the purchase price in rent.
$100,000 property should throw $1,000 in monthly rent. I've rented houses for a while. Being Military I bought in a couple of places and then got transferred. at one time I owned 3 houses, 2 of them rentals, now I'm down to just 1. Here's the truth, I've rarely "Made money" most of the time I'm lucky to break even when you add in all the property management costs. The best I can hope for is the renters paying to Mortgage while I might make couple hundred a month until the value of the house goes up and I can sell. but one blown water heater and you lost all that in your deductible. I would be hard presses to say people who rent out their house (UNLESS you manage your own property) make very much. if you manage your own property there's more money to be made. I can break down the property management costs and show you, they make a killing. Would you be happy breaking even for 20-30yrs on 1, 10, or 100 houses? Like any other investment, real estate favors the young investors. No my smart investment friend...I said--The best I can hope for is the renters paying the Mortgage while I might make couple hundred a month until the value of the house goes up and I can sell. I'm talking less than 7-10 years. Here's what has happened twice: I bought in late 90s, lived in it 4 years, transferred and rented it while I was in another state. The Renters paid the mortgage for 4 years (I actually lost money in the long run), the housing market continued to rise and I sold it for $120k more than I paid. that's how you make money. second example, I bought at the absolute bottom of the housing crash in 2010 in Las Vegas. Lived in it for 3 years, it has been a rental for 6 years, it has tripled in price. I'm about to drop it in the next 3-4 months and will make a lot off it. if you hang on to a rental for 20 years, you're not doing it right, I never said hold a rental for 20-30 years...bad idea.
|
|
|
|
