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Sylvanfan · 06-24-2007, 05:32 PM

^^^
Yeah right now it's tough to rent a place and be in postive cash flow at todays prices. I bought my place 2 years ago with 10% down and today to rent it and pay the costs of owning the home I could break even with todays prices. The rental market for my house for about $2000 per month right now with our so called Super high rents around here. In order to buy it on a 40 year mortgage with 5% down you'd need about $25 grand for down payment legal costs, and a mortgage payment of $2750 per month. So for the most part residential houses are no longer a very feasible option as a rental.

The only way it can be done without a large down payment is if you have separate suites being rented, or as Photon suggests renting out room by room. And that will be a big pain in the arse.

I still think money can be made as a land lord...but you need to have really deep pockets to buy into that game. Also unless you're a real do it all yourself type...home maintenance can get quite costly.

06-24-2007, 05:32 PM	#4
Sylvanfan Appealing my suspension Join Date: Sep 2002 Location: Just outside Enemy Lines Exp:	^^^ Yeah right now it's tough to rent a place and be in postive cash flow at todays prices. I bought my place 2 years ago with 10% down and today to rent it and pay the costs of owning the home I could break even with todays prices. The rental market for my house for about $2000 per month right now with our so called Super high rents around here. In order to buy it on a 40 year mortgage with 5% down you'd need about $25 grand for down payment legal costs, and a mortgage payment of $2750 per month. So for the most part residential houses are no longer a very feasible option as a rental. The only way it can be done without a large down payment is if you have separate suites being rented, or as Photon suggests renting out room by room. And that will be a big pain in the arse. I still think money can be made as a land lord...but you need to have really deep pockets to buy into that game. Also unless you're a real do it all yourself type...home maintenance can get quite costly. __________________ "Some guys like old balls" Patriots QB Tom Brady Last edited by Sylvanfan; 06-24-2007 at 05:34 PM.