Quote:
Originally Posted by Leshook
Hi there, we are looking to purchase a home and then rent it part of the year. I’ve been researching, and I’m hoping some would share here or privately if they feel the market is over saturated with rentals? Is it a profitable thing or do you just break even? Is there a certain area that is better for rentals? Thanks so much for any insight!
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I am a 3rd time landlord.........I bought in TV last year with renters in place that is immaculate!!! I NEVER knew that 2 dogs were living in it when I previewed it. As a landlord here in AZ I specified NO PETS and that can be done..........MY renters came with 2 dogs in TV do I like it? NO? But the dogs are well behaved and my carpet inside is very light but like I said its CLEAN.............Golf Cart If I do another rental there either furnished or unfurnished would I provide a Golf Car? NOPE do not want the hassle of maintence............Would I prefer to do furnished? NOT REALLY as you have to cover ALL bills even if its not rented.......so that means you are not making money...........So yes I prefer long term unfurnished. You wont make as much but you will make some. Case in point I tried to really up the rent on my people as they were really very low on the scale and it was a newer 3 year old home...........BUT I knew to cut them a deal as they are taking care of my home there as IF it was there own...........IF I buy again I may contact them to see what there pricing is to get them back but for the long term.........Am I breaking even? maybe but barely it was not about the $$$ for me this time as much as keepin up with my home so I can move into it and I hope to do so by the end of summer early fall....ALSO IF you rent under 6 months and 1 day you have to pay the tax of 7% which should be built into your price or stated in addition on top of rent......If it's long term there is no need to do this.. .........BTW there are many many facebook sites that you can learn from........Landlords of the villages is one site with loads of info...........Some of those that responded on here I bet were never ever landlords.............its not always peaches and cream when it comes to being a landlord just sayin......and its not always about the $$$$