Rent my house or sell it?

[WorkhardParticipant 343]

I recently bought a second home. It is in a more upscale part of town and I have not stayed at my old home for a few months now. I still owe a little on the mortgage but just want your guys opinion on whether I should sell or rent it. Opinions please.

[Branched offParticipant 10980]

Tough one to answer without more info about your local housing market and your age, future plans, the legal situation with regard to letting in your country and your other investment opportunities.

I think that Trump’s boom must end some time and when it does global house prices may take a hit. I think Trump’s boom came on top of already high prices, traders were just so happy he was not a post wall hag but a genuine business man that they got over excited. Of course if you are in it for the long haul it doesn’t matter really if the market takes a hit. You will still own a house that has the power to buy a house of similar value elsewhere if sold. However if you are looking to lock in profit and move on freeing yourself of a tie then this might not be a bad moment.

As those who are both lazy and poor get dumber thanks to welfare, so governments tend to make the laws regarding letting harsher for landlords by making them do loads of extra stuff for tenants and giving tenants too many rights. This serves to push up the rent making the dumb poor even poorer after they have bought their necessities like f~~s, booze, lottery tickets, Iphones and drugs. This in turn pushes up welfare but at some point the cycle has to give and the lazy and dumb poor (as opposed to the intelligent and hard working poor) have to be allowed to fail. When this starts it may be attractive to make life hard for landlords as it will make houses more affordable as welfare for rent is cut back. This may be the very long term picture.

There is quite a lot to answering the question and I think it is a good idea to get an idea of your local housing market, regulatory environment and your personal time horizon and aims.

A woman is like fire -fun to play with, can warm you through and cook your food, needs constant feeding, can burn you and consume all you own

[Solo MAN’S WisdomParticipant]

If you are handy [to handle repairs/maintenance], and want to deal with the headache of finding good tenants, rent the bitch. Check with your state to find out what your rights are, as a landlord, compared to renter’s rights. Many renters know it takes 3 months to process an eviction notice, so they will sign a 12 month lease and stop paying for the final 3, cheating you out of that money. Get 1st/last months rent AND a security deposit for damage, theft, etc.

If not, sell it.

When women lead, destruction is the destination. -- Me.

[foolsgoldParticipant 5664]

Being a landlord is a lot of work. If you are confident in being a landlord then by all means rent it out. Right now yo are in position to to sell being you don’t have tenants occupying the house. I personally would dump it. We are currently in a housing bubble and I wouldn’t want to be holding the bag when it pops. Good luck.

[WorkhardParticipant 343]

I’m leaning more towards selling since the house is old without a good heating source, but the thought that I could pay for the house tri fold by renting it makes me question whether to sell it. I’m not hard up for money but I’m not wealthy by any means.

[Daryll55Participant 2958]

I like liqidity and real estate is one of the most ,if not the most ill-liquid asset one can own.
(but hey,…. that’s just me)
Do whatever it is that suits YOU best.

Marry again, Hell NO ! ( Even JESUS was hung on a cross just once)

[OgreParticipant 5863]

If leaning toward keeping it I’d get a property manager to handle. A call at 3 am about the water heater exploding is as far from ZFG as you can get.

If the rent won’t cover your desired profit level, repairs, and a property manager then dump the older place.

I lived 12 different places in 20 years after attending 3 high schools, so to me houses are just four walls to hold my stuff and me when I’m not working. If it isn’t paying you enough it’s just a possible future headache.

I failed to realize in my youth that I was the prize. I was going to work. I was going to earn. Little did I realize that due to feminism, that no longer meant I had to share. Road soon, Desert after.

[743 roadmasterParticipant]

I do have one bit of advice. If you sell in no way what so ever do owner finance. It has been nothing but a headache for the past 3 years and I am no where near to being done with the mess.

mgtow is its own worst enemy- https://www.campusreform.org/

[Nags4CashParticipant 1163]

Rent it out using a property manager, that will severely lower the work involved. You can still sell it at any time as an investment property if tenants are still signed.

Murph ~ There is nothing brave or manly about entering into a contract with somebody which allows them to take your money, assets, children, and decades of your future income on a mere whim.

[Secret Agent MGTOWParticipant 22548]

Workhard wrote:

I recently bought a second home. It is in a more upscale part of town and I have not stayed at my old home for a few months now. I still owe a little on the mortgage but just want your guys opinion on whether I should sell or rent it. Opinions please.

Do you like never-ending problems and drama, or do you like it to be over at a clear point in time?

Women want everything, but want responsibility and accountability for nothing.

[Nags4CashParticipant 1163]

743 roadmaster wrote:

I do have one bit of advice. If you sell in no way what so ever do owner finance. It has been nothing but a headache for the past 3 years and I am no where near to being done with the mess.

In your case, it’s possible to outsource the collection work while owning the debt. Sometimes less money is worth less stress.

Murph ~ There is nothing brave or manly about entering into a contract with somebody which allows them to take your money, assets, children, and decades of your future income on a mere whim.

[Nags4CashParticipant 1163]

Property managers take care of maintenance, collections, even evictions for a relatively fair 10% monthly with additional costs for court fees and such. It’s not necessarily suitable if the mortgage price is too high but otherwise it takes a lot of the stress out of the equation. Whether the gains exceed the value of the house invested elsewhere is a different matter of course.

Murph ~ There is nothing brave or manly about entering into a contract with somebody which allows them to take your money, assets, children, and decades of your future income on a mere whim.

[GrumpyParticipant]

Sell the old house while you can period.
Why be legally and financially liable for 2 properties?
Use as much of the “earnings” to pay down/off the mortgage in order to offset the “capital gains tax”.
That is just my opinion.

There was a time in my life when I gave a fuck. Now you have to pay ME for it

[Gravel PitParticipant]

foolsgold wrote:

I personally would dump it.

Same opinion here.
Just my opinion as a young man, but once I’d sold it, I would NOT put the money in the market. I’m extremely concerned that a big slump is coming as more boomers retire and start living off their money and collecting SS checks.

My business currently rents some condos. Its fairly trying. If you do rent it, like the other guy said, get 1st and last month’s rent + security deposit. Also, do not rent to women or blacks. IM JUST KIDDING! LOL Rent to anyone who has a f~~~ing JOB and can obviously pay their bills.

[iMickey503Participant 12466]

The market is hard to predict right now. Bets are on that its going down. But I doubt it.

However, will the economy is good, it is a good idea to sell ONLY if you have an INVESTMENT PORTFOLIO LINED UP.

If the house is going to make you MORE money then the Investment portfolio, then keep the home. Rent it.

Just remember a FAT security deposit. And PLEASE DO as others say to check your local laws. You want to get the MAXIMUM amount from the property with the MINIMUM amount of work and LONG TERM RENTERS.

You also want to install a sprinkler system for the grass, and if possible make the property as EASY to clean and maintain as POSSIBLE.

Your going to have to REPLACE all outlets etc and Appliance with new ones if needed.

Also, all your lights that are hard to get to should be LED’s. The less the mess with stuff the better.

Make sure the BATHROOM has some kind of floor drain. THIS IS IMPORTANT. I did this on one of my uncles apartments. Never had to bother replacing a floor.

If its and OLD house, make sure anywhere where water can spill is made so that it pools on the floor, and does not seep anywhere.

If you have carpet? Consider WOOD floors. Also, SPRAY the LIVING S~~~ out of the place for ants, buts or any vectors, and place traps to catch any rodents that may infest.

The water spigots should be replaced so they don’t leak. And INSTALL YOUR OWN HOSES.
Basicly, make the place as FULL PROOF to avoid any damage to the property as possible. The less calls the better.

Also, most people have a TV installed on a wall. Make sure YOU do that, or have the mounts ready on the wall. Don’t let THEM Mickey mouse the walls. Same thing with cable Satellite etc.

You don’t want some YAHOO installing the systems.

As far as heating or cooling? THe reason why most places use Baseboards is that its Maintenance free. Central air is great, but it takes more maintenance. If you do choose to go down that route? Make sure to build in the costs of maintenance.

Good luck. Its a TON of work, but it can be worth it. Also, build in ANY costs for DV orders, Court costs etc.

The idea is to make sure you have people come in the house to do periodic maintenance to keep an eye on things. And if possible, make sure to install anything that stops people from getting hurt or falling etc.

You are all alone. If you have been falsely accused of RAPE, DV, PLEASE let all men know about the people who did this. http://register-her.net/web/guest/home

[harpo-my-“SON”Participant 2410]

You are a slave to everything in your possession.
Drop off the key lee and get yourself free.

I was bound to be misunderstood, and I laugh at those who misunderstand me. Kind mockery at the well intentioned, but unfettered cruelty towards those would be prison guards of my creative possibilities. This so as to learn as much from misunderstanding as from understanding. Taking pleasure in worthy opponents and making language fluid and flowing like a river yet pointed and precise as a dagger. Contradicts the socialistic purpose of language and makes for a wonderful linguistic dance, A verbal martial art with constant parries that hone the weapon that is the two edged sword of my mouth.

[chirParticipant]

One thing to think about.

You potentially will be renting to women or single mothers. Leases don’t mean s~~~ to them. They will f~~~ your property right up because they can get away with it. Especially if they are single mothers because they can game the state an federal agencies against you.

It is by caffeine alone I set my mind in motion, it is by the beans of Java that thoughts acquire speed, the hands acquire shaking, the shaking becomes a warning; it is by caffeine alone I set my mind in motion.

[BeerParticipant 11832]

Crunch the numbers…what do you think you could get for rent for it? Now minus out what you’d have to pay for taxes, insurance, mortgage if applicable, and set aside a couple hundred bucks a month for repairs and upgrades since its an older house and will inevitably need work. If you plan on going the property manager route, set aside 10% gross for that.

Whats left over?

I considered buying a rental a few years back, and there were two main factors for me…

1. Opportunity costs. You have money tied up in that property and land lording requires your time. What could you reasonably expect to make per month compared to what could you reasonably expect to make if you sold the property, threw all the proceeds in the market, and picked up a few extra hours at work instead?

2. How much would it take to put you in the red for the year? Are you looking at 200 dollars a month profit on 1000 a month charged in rent? All your profits for the year are gone if it sits vacant for a month and you have to do some minor repairs/maintenance. If you get a s~~~ bag that stiffs you for a month, then takes two more on top of that to get rid of, you end up with a bunch of bulls~~~ and stress just to lose money for the year. Are you looking at 600 a month profit on 1000 charged in rent? If so you have a significantly larger buffer should things not work out perfectly for you.

[ResidentEvil7Participant 9572]

I would sell it, put the money towards your current house and be done with it.

https://themanszone.webs.com/

[Ja[H]xParticipant 193]

Do you like the idea of having to be reachable 24 hours a day?

Do you like working on water/electrical?

Are you in a position to skip days of work to resolve an issue in a house you don’t live in?

If the answer to these questions are all yes, then consider becoming a landlord.

Otherwise, sell it and invest the money.

~Insert witty comment here~

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