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7 September 2023 | 46 replies
You have to ask yourself, do you want to be some real estate mogul with 100+ rentals or are you just looking for something simple to supplement your retirement?
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17 April 2017 | 8 replies
Thank you for the article. i do not see a negative in accepting those sources as proof of income, if you look at and think about the list of incomes, they are pretty much all guaranteed sources of income and supplemental, so why wouldn't you include them. usually you can base that as a percentage of their income, if they fall short and do not pay, you can usually evict them saying they didn't pay based on the other percentage of the income that they are responsible to cover.
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5 May 2019 | 27 replies
The appreciation on this duplex has been enough to be able to retire (or supplement a deadbeat siblings "retirement").
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19 May 2023 | 12 replies
You would have to purchase a supplemental liability policy in increase your limit to $300k, then you could qualify for an umbrella.
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26 October 2022 | 18 replies
I attempted a very similar approach to say "look, im aiming to have this rented out for a third or up to half the year via AirBNB... and want that factored in for liability sake more than anything, not interested in any supplemental loss of rental income" .... she simply replied "Oh, ok, did not know that... good to know, I can up the liability to $1M to cover you in that regard, and add the 'Home Rental' package to it that is $271 annually".
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16 October 2021 | 8 replies
I am looking to build a portfolio and eventually supplement my income through rental properties and would love to connect to learn from others who have done this.
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19 November 2021 | 10 replies
With all of the activities affecting employees and employers due to COVID and the Great Resignation, I decided to reassess my current situation and look towards a possibility of a new career path in Real Estate or, at worst, just to supplement my current salary.
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7 November 2014 | 5 replies
I will also be looking into some umbrella insurance plans as well to supplement.
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7 September 2014 | 0 replies
I really started with initially wanting a buy and hold portfolio that would supplement my annual income and I still want that but I dont see that as possible for at least 5 years.
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20 September 2017 | 5 replies
Hi All,I am looking for advice we are looking into investing some money into our first rental and at the same time are looking for a bigger house for ourselves.With this in mind we are considering keeping our current house and making this our first rental possibly in the future if we wanted to downsize we could return as we really like the neighborhood.Our objective is long term investment to supplement out 401k’s although likely along the way we will need a balance between cash generating property and appreciation driven.So FinancialsOriginal Purchase price $300K in 2014 (Estimated current value $330-340k)Deposit 20%/$60kInterest Rate 3.75%There is $200k left on the mortgage I am using a excel rental calculator and I am using the original purchase details without updating for the reduced mortgage or higher appraised value as that seems to complicate.Assumptions:Estimated Rent $2300 p/m (Based on zillow and comparables)Vacancy Rate 10%Property Taxes $8800Insurance $1200Maintenance/Repairs $2000Utilities $600(This was to include mowing services)Advertising $250Annual Expense inflation assumed at 2%Property appreciation assumed 3% (This might be conservative Ann arbor has been 4-5% for last 5 or so years)The property calculator gives me -2% return on cash but 16% return on investment.Based on this what advice would you give me or watch outs?