All Forum Posts by: Anthony Michael Mugnaini

@Michael Craig Piesnikowski That's what I was wondering .

I forgot to mention, the mortgage on the home is $697 which includes the escrow for taxes and insurance. I just remember reading about a gradual increase in the rent yearly and event sure if that's something most renters do .

@Michael Craig Piesnikowski How we have it setup , the water is well water , sewage is on site (mound system). Lawn care will be done by tenant , as well as snow removal and general home care including shoveling the roof which I intent to come help with the above personally if I'm able . The water treatment system the tenant would be covering also . Thank you for the kind words Michael.

@Pat L. That is my long term goal , in our area the market is starting to slowly rise . So I figured I can rent and invest into my current home so the homes value can rise. Then sell it above my current balance and use the equity obtain to purchase a larger property. At this point I owe around $120k it's worth around $132k I want to get it a little closer to $140k before I cut it loose. This whole approach to investing is new to me so I appreciate all the help and input .

My fiance and I are looking into renting out our home and purchasing a larger home for our large family. We presently live in a 3 bedroom, and have made an offer on a 5 bedroom home , which was priced at $199.900 and the offer we made was accepted at $148,000 .  In our area homes similar to ours are renting for around $850 , we've put ours at $800 without a pet and $850 with one dog . The traffic has been amazing on our property and we have a few potential renters that are very interested . This being my first rental property i'm trying to figure out how I will be able to really make any money off of it . At this point with my present mortgage being $697 a month, I will making either $103 extra a month ($1,236 yr)  or $153 a month ($1,836 Yr) if they have a dog we accept. I'm falling right in line with other rentals , especially ones like ours that aren't including any utilities I guess I expected more passive income coming from it ?

I also am wondering how I would increase the rent yearly, I remember a BP podcast that mentioned this process of renting your own home to buy a larger home, but I can't recall if they mentioned increasing renting yearly or if that is just something I didn't hear correctly .

I look forward to hearing from all members willing and able to help me with these questions .

Following , really have NO idea where i need or want to start in this path. I just know if i don't start ill regret not taking a shot at my financial future.

So is the $100 course that is offered on his site different than what others have discussed?