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I have four homes, all are paid for. But as a landlady, I rent/have rented out the ones I do not live in. Two are in a mountain hollow in southern WV. Both are on city water and sewer and both have a newer washer and dryer in them. I get $400 for a 2-story with attic and basement. I get $300 for 3-room bungalow with a nice shed and yard that backs up to 1500-acre woods. I get $1,000 for a farm in Central Florida with an all stainless kitchen including washer, dryer, dishwasher, side-by-side refrigerator with ice maker and water dispenser, 4-car garage, 4bed/2 bath house and 12-stall horse barn on 5 acres fenced and cross fenced.
Since my health is spiraling in the wrong direction, am considering renting out my 1-room camp in the woods of north central Maine on a seasonal basis for $500/month while I remain in the bungalow in WV.
Momma, Did you finance that whole amount? The reason why Im asking is because I'm thinking of purchasing a house at 300K and am getting different payments on different websites. Thanks for any info!
Momma, Did you finance that whole amount? The reason why Im asking is because I'm thinking of purchasing a house at 300K and am getting different payments on different websites. Thanks for any info!
No we put 6 down on the 530K - I can't remember why we did that... we tend to have the entire amount financed UNLESS we have to pay down the mortgage in order for it to cash flow (when renters move in). We have another property closer to your number, that was bought for $387,000 no money down. That mortgage is $2,300/month including property taxes. We buy houses/multi units (with as little money down as we can get away with), live in them for a few years then rent them out... our primary is not suitable for renting though - we bought it strictly to live in and not as an investment.
Thanks for the response. Unfortunately the house we wanted for 300K was contracted to another person. I told the realtor to keep my info in case something happens
well I guess I couldnt afford alot of what others are paying for......I would have never thought......I guess I should be grateful for what we pay although we are broke after rent......broke before rent guess either way, broke, broke, broke....*L* sorry im alittle goofy right now. New to this forum thing
I pay for an older 70's apartment in an okay part of town-not great $535 for a one bedroom no washer/dryer. Nice apartments, nice parts of town are a little over $700 for a one bedroom. They aren't outrageous, but I can't afford them being a student. I would have barely squeeked by when working. My friends who bought their three bedroom house ten years ago used to pay $700 for their mortgage, but now they remodeled so its $900, but still they have a 1800 sq ft house a pretty big yard and deck and large front yard, garage. Its not fair. In a few years, if I'm still renting, I will have passed their mortgage payment and be living in a shoebox.
I've seen at the bank a poster that said if you've been paying rent for this long (it had different years and amounts listed) this is what you would have paid on a house...
At this point if I would have a bought house like my friends back then, I would own half of it by now. That is so depressing! I don't have anything to show for not buying, like going on fancy vacations instead. Ugh! I probably made a bad choice back then.
We rent a 1 bedroom apartment in Reno, NV with about 500 Sq. Ft. for $500 a month which includes all utilities except electricity which is about $40 a month but we are on the low income energy assistance program so we don't really pay it.
Our rent was $595/ mo but they lowered it after i found some less expensive ones in the paper and threatened to move.
This is a pretty good price, IMO cause most other places in Reno run $600+ for a one bedroom apartment. Also we have an indoor pool/spa that i we have free access too, so i guess $500 ain't so bad.
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sorry im alittle goofy right now. New to this forum thing
