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Originally Posted by Packer Fan
I agree a good investment, but I totally disagree with one part of your calculation - You will make more than enough to cover all your costs without throwing in $4k - the only way you would have to throw in money is if you use one of those high priced management companies. I have 2 rentals and they both cashflow positive, even with a mortgage. Jan-April, October and November are a lock, December and May are a bit tougher but rent about 80% of the time. I have even rented the summer months about 50% of the time. Villagers homes 4 rent is the secret. You won't get rich, but they appreciate every year. Easy to track that since there are always lots of each model for sale. The house I bought for $245K in 2014 is now easily worth $310, probably $320.
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It really depends how honest you are with yourself. Homes are not furnished for nothing, the used golf cart you provide cost 5,000 (or more). Most owners simply don't include these costs, to not amortize these is misleading.
Over time, with increasing rent, it does become a more favorable calculation. It is worth noting that the average owner rents just under five months a year.
How do I know? I reversed looked up 26 homes on VH4R and tracked those back to water usage to calculate occupancy rates. It was a interesting exercise.