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Old 09-09-2007, 12:26 AM
Kitria Kitria is offline
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Default Re: What is Success Rate of Buying then renting out?

Hmm...We agreed on the price of our house in the end of February to sign in May of 2001 went home with someone to rent the place Jan-Mar of 2002 (and had it rented every year until I retired). The next day we went to Kanes Furniture store and bought furniture for all the rooms and they stored it free until May.
Between March and April we scoured Target and Walmart at home up North for prices on everything.
Hubby came down to sign papers, I came 2 days later. He had gotten the tv's. For 3 days we went out to either Target or Walmart from 7 am to 2am the next morning. We got a carful, deployed, took out bags and boxes..then went out again. Found a wonderful second hand store in Leesburg for art work and dust collectors.

Renting worked out slick. Paid for all the upkeep, utilities, insurance, etc. We used the house 2-3 wkks out of the year until I retired in 2005. Was a wonderful investment and am truely glad we bought when we did. I don't think we could have afforded to do it in 2005. The prices had risen a lot in 4 years.

Prices are down now.....if you can, buy now....prices won't stay low forever. We all know there will be a reverse swing on housing....there always is.
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