Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,348 posts, read 8,567,170 times
Reputation: 16693
Advertisements
Quote:
Originally Posted by txfriend
I’m 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.
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.
Consider 2 things with an Airbnb.
1. There’s 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.
Also watch out for HOA assessments in addition to monthly fees.
Quote:
Originally Posted by fishbrains
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
