All Forum Posts by: Heval O.

Hi, I bought a condo townhouse a few months ago for 465k with 20% down, 3% interest and a monthly mortgage of 1565 at 3% (ported mortgage) + 175 in condo fees. I'm now considering buying a 2nd unit, a freehold townhouse for 475k with 20% down and no condo fees. I'm unsure if I should move into the new place in the spring, lower my personal expenses by taking advantage of the lower interest (~2%) and write off the rental income due to the higher expenses OR stay and rent out the new place for ~2000-2100/month and make ~300-400/month in rental income. This is my first deal so I'm really not sure what to do. Am I taking on too much risk/debt?

@Matt Nusbaum @Nicholas L. I used the bigger pockets calculator to come up with that number but will double check it again to see if I included vacancy etc. Assuming it's $200/month, I'm considering renting my place out and pulling equity out of the home to put down on another in a cheaper city a few mins from where we currently live or just rent there... How do you guys feel about that?

I own a detached, raised ranch (3+1 bedrooms, 1.5 bathrooms) with a relatively affordable mortgage. Looking ahead, I can't decide what to do with the home. On the one hand, I want to get it paid off as fast as possible and on the other hand I'm entertaining the idea of renting it out (~$200/month margin). Any input would be greatly appreciated.

@Taylor Chiu good point re passive income. Was thinking that by taking over an existing business, optimizing operations and eventually replacing myself I could create passive income too or is that just me being idealistic?

@Greg Dickerson so essentially you created some sort of fund, assigned shares and took over the running of the business?

@Greg Dickerson agreed on the buying vs starting from scratch. However, wouldn't buying require more capital? I find that many (small) businesses can be started very "lean" and if it's done in an established but not yet saturated market then profitably is toon to follow too. What do you think?

Hi Everyone,

I've been looking into real estate for a while now and have enough money set aside to get my hands on a remote rental property (properties in my area are insanely expensive). Based on my estimates I'd net about $500/month.

At the same time, I'm wondering if the money would be better used for buying/starting a business assuming I could systemize/automate it as much as possible?

I already own a small business and know how much work it requires but I also know that business profits would dwarf the rental income...

Would be interesting to hear people's input on the matter.

Thanks for your help in advance!

Thanks @Jaysen Medhurst. I was just referring to all the articles/blogs I've read that said to own at least 2 doors as a way to hedge against risk.

Hi, I'm looking into buying my first rental (3 bedrooms, 1.5 baths) with 20% down and a 30yr amortization at a purchase price of $100k. It would be an out of town purchase but I've spoken to a property management company in that area about rental prices. I'm looking to rent it out to students as it's close to a university. The property management company said I could expect $400-$550/room.

I know the general rule is to own more than one door but does that still apply if I'm renting it out on a per room basis? Also, is renting out to students a good idea? What else am I missing?

Thanks in advance for your feedback!