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re: Better to spend all of savings and be debt free or full of debt with lots of...
Posted on 4/16/13 at 1:49 pm to townhallsavoy
Posted on 4/16/13 at 1:49 pm to townhallsavoy
quote:
If I get shat on by my renters and then can't fill the house with people, we couldn't afford two mortgages for very long.
That to me is the answer then. You should only rent it out if you can afford no one to be in the rental for 6-12 months. Take the hit, move on, and continue to build your emergency fund.
1
Posted on 4/16/13 at 1:55 pm to OnTheBrink
quote:
That to me is the answer then. You should only rent it out if you can afford no one to be in the rental for 6-12 months. Take the hit, move on, and continue to build your emergency fund.
We COULD spend our savings for 8-10 months. It'd be possible, but not ideal.
My wife would kill me then die of a heart attack. She's terrified of renting the house out and insists it would only lead to trouble.
I feel like selling the house and depleting our savings will only lead to trouble.
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