Quote:
Originally Posted by moliver
Was thinking about renting it.....
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Yeah, went down that route myself. Sounds good until you realize everyone else that's in the same boat is thinking the same thing and available properties go through the roof causing rental prices to come down.
If you are way equity positive/can rent for more than the nut then go for it.
Do the math pessimistically. Do it on 8 months not 12 and see if it works. When you do get someone into a 12 month lease you want to hold 25% in reserve for things like unexpected vacancy, repairs, etc.....
And do a thorough background check even if you need to pay an agency to do it.
Nothing worse than getting the down/security and the tenant stops paying and you need to let the azzhole live in your place for the 6 months it could take to get rid or them.