Quote:
Originally Posted by Robbb
The second one is everyone on the planet has their home up for rent and the market is beginning to catch up. Currently on one web site alone there are 38 homes for rent for the the prime winter months of Jan to April. IMHO the day of getting 6 to 10K per month for a 3/2 are long gone, unless you get a foreigner who doesn't understand the market.
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Agree. There are several homes that are now up for sale in my village (close to Brownwood) that were owned by investors (close to the one year mark for new purchase). I was told by one that a landlord could still cover most of the annual costs, but the combination of lots of rentals, high interest rates, and increasing costs are making it very difficult. He made it sound like those that bought during\pre-COVID would do okay as homes were significantly cheaper and those without a mortgage.
I agree that I don't see how a landlord could cover mortgage + insurance + Property Mgr + utilities + CDD fees + maintenance buffer each and every month. If its a nice home in a good location you might break even for a few months, but its the longer slow season that will kill you....