|
my parents have owned homes and rented to many many people.
imo if you just bought then expect it to take about 5 years before the rent you get breaks even with the mortgage.
Also if youre going to buy, youre better off buying at least a 3 bedroom and at least a 2 bath.
If you get a 1 bedroom then you tend to get transient people who arent stable in life. We've had to go to court a few times from the single guys who rented a bedroom and turned out to be scumbags.
One started a fire in my house.
If you get a 1 bath then if theres a problem with the bath you have to go right away or get a plumber who will charge you more to come out at night or weekends.
if you have a second bath it can wait until the next day.
if you want a BIG money tip, buy something that is all 1 level and handicapped and wheelchair accessible.
Like a ranch with no stairs, or small stairs where its easy to put a ramp in.
You can rent it out to a special needs facility like a school for handicapped people and they can pay big money. A family member paid off a house in 9 years from leasing out her ranch to a school for handicapped people.
She just did another lease with a different facility and is using that money to buy her another home.
Either that or get a nice townhouse and rent it out to a corporation for their upper management to live in while in town.
Big money in that too and good quality people.
We dont rent to the public anymore, way too many problems.
|