Anybody own rental properties?

[toomanycamaros]

@dkid15

Ehh i would think it would be more lucrative to buy a vacation house in a climate where it would be rentable year round. You make much more money per week, you can book your self in for your own vacations, and you don’t have to deal with an the every day tenant issues (ie. washing machine, dishwasher…etc). Say you buy a condo or something in florida for 250k. Your most likely going to take out a 30 year loan on this. And youll most likely end up paying around 20k back per year. At 1500 a week you would only need to rent for 20 weeks out of the year to break even on payments and bills for that condo (I left a worst case 10k for electricity/membership dues/repairs). You still would get a “free” vacation home. You should be able to rent around 30-35 weeks/ year fairly easily. Thats an additional 15,000-22,500 income. Obviously this is only good if you can 100% make the financial move, because you can’t bank on getting a certain number of rentals your first year.

Good idea in theory, but I would have to farm out and pay all the repair and upkeep and it isn’t financially feasible for me to do that and buy another house to live in year round up in the north country. I’m thinking about starting out buying 1 place and purchasing a few more down the line if I like it. I am fairly handy around the house and have plenty of friends in the trades.