- Joined:
- Jun 6, 2010
- Posts:
- 15,741
- Liked Posts:
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- Location:
- NW Burbs
one was a no brainer- bought one next door because I hated the renters and my mom needed a place to live.
The ones I have for income I have been pretty close to the rental price (gross) X 72 = amount I will spend on the place (purchase and rehab)
I have a good handle on the going rental market the area I live and buy in, so it works out pretty well. I price my places 50 bucks lower than average and pick up the water and garbage bill out of my pocket.
I do all the work myself, so that saves a ton of money- I wont buy anything that needs more than I can handle.
..to add to it- I doubt I would buy in a subdivision with a strict association. my area is very rural so work trucks and boats and whatnot are just fine. I am fully unprepared to buy in an area with a thousand rules on what can and cannot be in the driveway.
Had a buddy who's car got towed out of his driveway in a townhome he rented- the reason...He had a snowboard rack on his suv.
No ladder racks or any other racks allowed, under penalty of tow. **** that.
That rule is such bullshit for me. Are people so bothered by a sports rack?