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re: 401K v. Real Estate
Posted on 1/27/17 at 7:11 pm to Rust Cohle
Posted on 1/27/17 at 7:11 pm to Rust Cohle
Yea. I need to go add that in, but I think I could handle the management up until I get multiple houses. So I may only add property management after I own like 4 houses.
Posted on 1/28/17 at 7:31 am to The Johnny Lawrence
I love the chart though, thanks. I really want to get into it, but just can't pull the trigger. Every time I crunch the numbers, I think "am I really going to do this for $100 a month". Maybe I will talk to the management company, if they can take all the work out of it I would reconsider.
I always would add in garbage and lawn maintenance, because if you don't they will bury their trash or hide it under the house, and never cut the grass. And there always seems to be some money for repairing after the tenant leaves, and some on initial purchase. Some have a general maintenance fun, or things that are necessary broken but need to be kept up to have a nice house. Like painting and other small miscellaneous things.
You could factor in the inflation also, but that might be difficult, as your other rental property values and rental prices will increase as well, it might be a wash to consider.
Another thing to consider is increased interest rate, increase property taxes, and increased insurance rates.
I think what you have is the best case scenario . You adjust those numbers to where you have management, your insurance is a little higher, you're not getting the rate that you thought, maybe $1000 a month. Then run the data, I would love to see the chart.
I always would add in garbage and lawn maintenance, because if you don't they will bury their trash or hide it under the house, and never cut the grass. And there always seems to be some money for repairing after the tenant leaves, and some on initial purchase. Some have a general maintenance fun, or things that are necessary broken but need to be kept up to have a nice house. Like painting and other small miscellaneous things.
You could factor in the inflation also, but that might be difficult, as your other rental property values and rental prices will increase as well, it might be a wash to consider.
Another thing to consider is increased interest rate, increase property taxes, and increased insurance rates.
I think what you have is the best case scenario . You adjust those numbers to where you have management, your insurance is a little higher, you're not getting the rate that you thought, maybe $1000 a month. Then run the data, I would love to see the chart.
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