All Forum Posts by: Mag Ma

@Mag Ma what market are you in? I'm happy to share about my experiences with PadSplit going back to 2019. I can connect you with others as well. 

I agree with a lot of what Richard said (he's a pretty smart dude!). :) 

For me, the largest chunks of money I've made are doing live-in flips. So, I'd consider buying a very dated house that is a great price in a great area, then fix it up while you live there and sell after 2 years. The money you make is tax-free if it's your primary 2 out of the last 5 years (if you rent it for a while, I believe there are some taxes, but it's prorated on time based on what I remember - not tax advice). A single person can profit $250k without paying taxes. 

If it didn't appreciate enough/you won't make enough to be worth selling, it will likey make a pretty good rental. (Again, if you bought well and did the work over time, should be a pretty good value.)

You mentioned, "Family tenants are safer". Unless you are house hacking, please don't rent to family... or friends... or friends of family... or family of friends. This goes sideways sooooo often - professional lines are easily blurred (or erased) and bad things for the property owner can happen. It can still be risky when living under the same roof as the owner but seems to be terrible less frequently. :)

I would also suggest avoiding an HOA - it's an extra expense obviously, but their rules can change (like rental restrictions).