Quote:
Originally Posted by Dream2retire
I want input and advice about investing in rental property in TV.
Long long story short: I have a cash pension plan from a previous employer. Pays out as an annuity payment at retirement until my death then 50% to my wife until she passes. No value after that. Let’s say it’s $2K/month. Now they are offering us to cash out or roll it over.
I really don’t want any advice about rolling it over.
I was investigating rental property investment. If I could buy a house and get $2k /month rental income after expenses I would be thrilled. My thinking is over the years this would increase ( 20, 15 , 20 years). My income would grow and I would still have the principal ( the house) and that would be growing as well.
After looking at it a little, I’m thinking long term rentals wouldn’t bring in that much after expenses. It appears like it may even be difficult to get long term renters. Short term would definitely bring in that and more during winter months but I’m guessing very little at all during the summer.
Do you agree or disagree? Observations?
Obviously there are a lot of details I have left off to try to be brief. Just wanted your input and experiences. Thanks
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With ten rentals you have a living. With five you have an income. With one you have a millstone around your neck. Enjoy the swim.