Tonight, just for kicks, I posted on the local afb spouses page to see what people thought I could honestly get if we rented our house. No offer yet, and no showings this weekend, and oh by the way, we’re moving forward at lightening speed on the new house.
I instantly got tons of responses. 1000-1200, which would cover our new mortgage and a hefty chunk of the old one, so we would net out in the win for sure. I also had two people who were basically begging me to rent it to them. i have a waiting list for a house that isn’t even for rent and might not be for rent.
1.) Investment properties are good, and we would just continue to pay down on the mortgage making it even more profitable to sell later.
2.) By renting to military we’re almost guaranteed a respectable renter who would take care of the property because they know how much shit they would get into with their commander if they found out otherwise
3.) Guaranteed mortgage payment every month. We could try to sell later when the market is better.
1.) Ugh. renting.
3.) Paying capital gains on it later if we do decide to sell it
4.) having to make any huge repairs and making sure we have the funds on hand at all times to do so
5.) Paying taxes on the rental income yearly.
Anyone here have a rental property? Give it to me straight. How awful is it to be a landlord?