Putting both houses up for rent
May 25th, 2006 by KenricIt’s been a week since my SFH#1 has been back on the market and not a single showing. So I decided to put both SFH#1 and SFH#2 on the rental market. I’ll live in the one that doesn’t rent out. If I rent out SFH#1, I will be -$120/mo cashflow. If I rent out SFH#2, I will be -$600/mo cashflow. So I’m hoping that SFH#1 goes first! If both rent out then…
Posted in Real Estate | 3 Comments »
Stumble it!
Hi Monarchcrest–
I stumbled on your blog through a link from another blog, and I’m intrigued. I fell into a unique situation with pre-construction, and my partner and I now own 3 condos. We are renting out 2 and live in one. As we were closing on the units last April, I had picked up RDPD (after hearing about it for years), and between that book and newly-owning RE, I have the fever. My main question for you is, with not all your properties cash flow positive, what are you actually living on? And how are you qualifying for mortgages? I have a substantial salary, and someone else paying the mortgages on 2 properties, but how would I position myself to get out of the rat race corporate world that I’ve been trapped in for 10 years (familiar number?)? Thanks for posting your adventures! Jenny
By Anonymous on May 27, 2006
I just sent a comment, but realized I should also send my email address. If you prefer, you can respond by email through my blog. Either way, I’ll be checking back to your blog regularly!
Thanks in advance!
By Asset gatherer on May 27, 2006
Hi Jenny, I live off of PT consultant gigs, my capital gains and savings. I do not spend money on doodads. You should determine how you are spending your money that earn from work. With all my properties I really don’t put a dime into them every month, so I just have to keep my personal expenses to a minimum. For some reason, when I worked I felt the need to reward myself with doodads. I don’t feel that need anymore.
By monarchcrest on May 29, 2006