Why would someone ever rent a cashflow positive property instead of buy it himself ??

[WalkingLiberty1919D]

Originally Posted by multifarious

What was the cost of the window, fridge, and furnace repair?

Consult with an expert before liquidating your home to pay for a potentially questionable college degree. Not all have equal value, despite having the same price.

I feel terrible for you, having to deal with caring for 2 generations. You must be under a lot of stress. I hope you can find some peace.

I get that, but the original question was posed under the context that the cost to rent was higher than owning. If that were the case, the fastest way to those $5000 rims is to pay less to own when renting is $1100 vs. owning is $750.

I spent a total of $9,500 on home repairs last year. Usually it's just about $1000 a year. So it was an unusual and "brutal" year.

My main issue is that I am going to have to sell at some point, as I said, the taxes and HOA fees are rising faster than my paycheck. And even tough it's just a 1980s built townhouse, it's too much house for me alone anyway. It's a little too much for just me and my daughter.

As for being a caretaker, I kind of like taking care of others. So it's not stressful for me. I worry a lot though. I think it comes with the territory of being a natural caregiver (to worry about those you care for).

I am not planning on using the proceeds from the sale of my house to pay for my daughter's degree. Since I now telecommute (even after the pandemic ends), selling means I keep my income but it frees up $2200 a month for me (mortgage and HOA fees). That's the money I would apply towards helping pay for college for my daughter. If she gets a lot of aid, I would just save the extra money. She's planning on a degree that combines math (she loves math and is really got at it) with international relations/foreign policy. So something like a degree in economics, finance, accounting with an eye towards international business or government.

The money from the sale of my house ($250K give or take) would be invested: 80% of it would go into a total stock market fund and 20% would remain cash. Incidentally, $250K is enough to buy a house outright where I am moving to. I am moving out of a HCOLA (where I live now) to a LCOLA (back home).

I would move in with mom and split the bills with her while I take care of her but I would be rent and mortgage free. When my mom eventually passes, I will either move out of her house or buy out my brother from his share of the inheritance and stay. I will use the money from the sale of my current home to buy whatever future home I have... if I buy a future home. I may decide to keep the money invested and rent a place. It just depends on future factors unknown to me now.

[oldtrader]

Here in our little town in Montana, $40,000 is half the value of a lot, and any older fixer up homes do not exist. A few years ago, a good contractor started buying any that came on the market, fixed up and upgraded them in the slow winter season to keep his crews busy, and kept them as rentals. We don't have any cheap older homes available. At this time our city plus surrounding country area has only 12 homes showing on the Multiple Listing Service, and all but 5 of them are waiting to close. Our homes are going up about 12% per year, according to the county records.