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02-26-2024, 08:13 AM
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Gold member
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Join Date: May 2022
Posts: 1,362
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Quote:
Originally Posted by Packer Fan
So I read through this and there is some good info and some bad. I have had 2 rentals for 10 years so I know what I am talking about. It’s pretty simple - when designers were selling for $250 and Patio villas for $180k, mortgages were 3.5%, and bonds paid nothing, it made some sense to buy a rental in TV as a diversifier to your portfolio. However, at current prices with mortgages at 7% and bonds paying 4-5% it makes no sense. Also, there are a lot more rentals now. Lastly for you - without renting out Jan-March you will lose money big time. Aa an example - high season rents form $5900 a month. Summer rents for about $1800. You MIGHT get about $3000 for Nov-Dec but Eastport area? No way. Put the $300k in bonds and use the $12000 you get per year to rent. Trust me, you will be better off. My rentals are paid for and I am moving into one and selling the other.
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Sensible advice!
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