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Old 05-26-2018, 08:55 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,114 posts, read 3,407,695 times
Reputation: 5648

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Quote:
Originally Posted by txfriend View Post
Iím happy for you, good to hear someone is enjoying and profiting from rentals.
We also retired early with a six figure income, but ours is from dividends.
Glad to see you recovered from what sounds like was a huge bump in the road for you.
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Old 05-26-2018, 02:32 PM
 
Location: Loudon, TN
4,919 posts, read 4,222,734 times
Reputation: 16352
Quote:
Originally Posted by XRiteMA98 View Post
OMG you deserve a medal! I thought I was going insane with just one. The eviction! The physical threats! The damages! The cat who gave birth under my bath tub! The lawyers!
Wow! We owned one rental for 17 years and had only one problem tenant. They allowed a friend to move in and they moved out without notifying the property mgr. Was easy to get her out since she wasn't on the lease. We just told her she was a squatter and had 24 hours before we call the police.

Honestly, owning a long term rental was easy money for us. We only rented to people we knew, friends of family, or family of friends.
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Old 05-27-2018, 09:20 AM
 
139 posts, read 147,189 times
Reputation: 70
Quote:
Originally Posted by AznDragon533 View Post
Hello,

If I am qualified for an additional $400k (30 year fixed) mortgage on top of my current primary resident.

Which Scenario would you rather do?


https://www.eliotandme.com/vacation_...a_USA/estimate
Consider 2 things with an Airbnb.
1. Thereís more & more pressure to tax them like a hotel. Factor that in.
2. Flipside, Airbnb is working on making things easier to manage. They are experimenting with everything from arranging cleaning to pretty much maintaining the whole process for you, making it totally passive for you.
And since their goal is to encourage more listings, and with efficiencies of scale, their margins will be much smaller than if you hired a property manager.
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Old 05-31-2018, 02:42 AM
 
2,493 posts, read 4,559,966 times
Reputation: 3113
Quote:
Originally Posted by AznDragon533 View Post
I wouldn't say Break even...

given $200k house, $40k down payment, $2400 a year in taxes, $450 insurance, $600 HOA fee

Total Monthly Payment: $1,138.08
Rent income: $1600

~$462 a month in Gross income
What kind of cheap townhome has an HOA fee of only $50/month? Or do you mean $600/month which is still less per month than the condo I live in.

Most townhomes have $200 to $300 per month fees. Look at this cheap one in Georgia. Even that one has a $282 monthly fee.

https://www.realtor.com/realestatean...7_M65513-86756

Also watch out for HOA assessments in addition to monthly fees.

Quote:
Originally Posted by fishbrains View Post
Given a $40k initial investment, and the real possibility of gaining 8% ROI in the stock market, that comes to $3,200 annually, or almost $300/ month for doing nothing.
Good advice! I especially like the do nothing part. I also like it that I can sell $500,000 in stock for only a $4.95 commission, not a lot more $$$ like real estate.
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