Re: Buying a home then renting it out
We purchased a new house over a year ago. We have had TV's Property Management handle the renting and have been very satisfied. They have it in the sales preview program so it has been rented most of the time, including some summer weeks in 2007.
I am a CPA so the tax situation was easy. But as stated above, if you are planning on renting you should consult a tax professional before and after you decide to buy/rent. In our situation the cost of ownership is about $1,500 a month. The cash flow for a year is close to the break-even point, but do not expect to make a hugh profit. It can if handled correctly be a good tax shelter. :bigthumbsup:
We are soon to be out of the rental prgram as we convert to being full time. If we had to do it over again, we would use Property Management again. It is very difficult to be a landlord from 2,000 miles away.
TL
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