Is it all it's made out to be?

We may earn a small commission from affiliate links and paid advertisements. Terms

the whole being a landlord thing isn't for everybody either.

it can be more trouble than it's worth if you have less than stellar tenants.
 
Just keep in mind that the numbers you crunched may not be the actualy numbers that come out of it. I ran the numbers when we were looking and the actual cost came out a little higher than what we had planned. We were still way fine on our budget but just keep it in mind.

:werd: I did the same thing and ended up being way under on numbers. Of course when I bought the house I had two cracked windows with one missing a pane of glass.
 
What's your seniority at your work? can your job get farmed out? look at any posted higher paid jobs opening up and bid for them. NEGOTIATE with your managers if you can.. DON'T call in sick or mess up that way

If you do have a 'renter' get a 'WRITTEN' CONTRACT!! if he's your 'good friend' he shouldn't have a problem with YOU owning the house and him just a 'renter' (money is money, friends are friends.. Know the difference)

Don't look to 'just get in' something.. you still want to have money for shades/bedding/shower curtains/garbage serv/utility hookups/movers(beer,pizza for the guys you borrow the truck from)/go to the energy co. that supplies service, get the past 18 months records.. Can you afford the 'average' bill?? I think it's gonna be a hard winter. yadda yadda.

Remember. keep looking for a better deal, NEGOTIATE-NEGOTIATE even pray about it

Gotta jet.. E
 
I found a winner!

DSCN1280.jpg


DSCN1261.jpg


DSCN1260.jpg


DSCN1268.jpg


DSCN1263.jpg
 
nice..... you make an offer?

I'm doing a final crunching of the numbers and double checking everything else out there. This has everything I want with the exception of a big yard. The house was kept meticulous and the people living there now built it in 92'. It's got an over sized 24x24 garage. Insulated, heated, 220v outlet, and has a sink. The house has 1500 sq ft, but an entire 1200sq ft finished section in the basement. There's a huge bedroom with walk-in closet, and attached bath down there. Perfect for renting out. The neighborhood that it's in has awesome resale value as well.
 
kitchen is a bit dated, as is the stained trim, but overall it looks to be in very nice shape.

@ apartment, it needs to have proper doors to be a legal unit. (fire code, etc) friend, etc it doesn't really matter, but keep that in mind before you CL it for a roommate wanted ad.
 
save yourself 100 grand and just build this shop house i drew for one of my classes. ^_^
 

Attachments

  • screen shot of gambrel floor plan.JPG
    screen shot of gambrel floor plan.JPG
    54.3 KB · Views: 63
  • screen shot of gambrel roof and section.JPG
    screen shot of gambrel roof and section.JPG
    45.2 KB · Views: 68
Back
Top