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2
Posted on 5/25/15 at 10:12 pm to xxGEAUXxx
I have a home in Lafayette that I bought and lived in till I got married. I moved and still own it and lease it. What's your opinions as I have been contemplating selling.
2006 bought new for 227k
Put down 40ish
Note is $1464 includes everything (property taxes, insurance, etc)
I still owe 181k. 4.5% 30yr
I rent it for $2000
I pay $45/month for warranty product that has worked awesome. (i pay monthly, but renter pays the $50 when someone gets called out)
what would you pros do? I guess there may be some other areas where I could do better but haven't really worried about it yet.
Guy pays me with cash or check that I just cash...never deposit
I'm sure you know what I mean , lol
2006 bought new for 227k
Put down 40ish
Note is $1464 includes everything (property taxes, insurance, etc)
I still owe 181k. 4.5% 30yr
I rent it for $2000
I pay $45/month for warranty product that has worked awesome. (i pay monthly, but renter pays the $50 when someone gets called out)
what would you pros do? I guess there may be some other areas where I could do better but haven't really worried about it yet.
Guy pays me with cash or check that I just cash...never deposit
I'm sure you know what I mean , lol
Posted on 5/25/15 at 10:29 pm to ItzMe1972
How the hell does this broken english mofo get his own infomercial?
Posted on 5/25/15 at 10:32 pm to ItzMe1972
quote:
He is now a professional poker player.
he does have a lifetime 1.8 mil winnings from tourney. Maybe I should attend his poker semina.
Posted on 5/26/15 at 12:11 am to xxGEAUXxx
My dad has bought quite a few in lower income areas. The houses are cheap and nearly everyone is looking to rent. He usually gets a ton of applicants and finds one or two good ones. It has worked out well so far. Rent can range from 800-1200 on pretty low notes.
Posted on 5/26/15 at 12:54 am to GeeOH
That would be nice to be off the books. But I don't trust people even if it was family. Did you want to invest in more properties?
Posted on 5/27/15 at 12:08 pm to xxGEAUXxx
I'm not sure. Since wife's home was larger (4 kids between us) we decided to move into her house. It does have a mortgage on it so I could surely pay down on that. But the rate is the same so there are no real savings there.
I was really wondering if I'm getting a good return or if it is considered low, I might be more inclined to dump it and use the equity elsewhere.
And yes, it is off the books....allegedly
I was really wondering if I'm getting a good return or if it is considered low, I might be more inclined to dump it and use the equity elsewhere.
And yes, it is off the books....allegedly
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