Re: Looking to start. - Landlord Forum thread

Re: Looking to start. by Anonymous on November 7, 2009 @10:31

It is hard to make money on any rental property because you have to pay mortgage interest and taxes plus putting rent money back into the unit to constantly rebuild it. You must also purchase a piece of land to put the mobile home on that will likewise incur mortgage payments, interest and taxes. I am always suspicious of people who claim to be making a living on rental property. I do not think they are counting all of their cost which includes depreciation.

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Re: Looking to start. by Anonymnous on November 7, 2009 @12:24	[ Reply ]
What many landlords tout as "a good return" is actually the harvest of unremediated depreciation in the form of neglected upkeep in things both large and small. Many eventually drift to sec.8 landlords.

Re: Looking to start. by Anonymous on November 7, 2009 @16:27	[ Reply ]
I find it hard to believe that there is "no money" in renting. If there was no money, no one would do it. Its not something that makes you hop up and down from enjoyment haha.

Re: Looking to start. by Micah on November 7, 2009 @16:49

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LL'ing is for most people, a long term investment. You get other people (tenants) to pay the mortgage, insurnace, repairs, upkeep, taxes, etc on your properties. Over the course of time the mortgage gets paid off, the value of the property increases, and you see a profit. Once the mortgage is paid off you get to see a lot more money! For many, owning rental properties is not about a paycheck but instead is a retirement portfolio.

Re: Looking to start.

Re: Looking to start. by Anonymous on November 7, 2009 @20:37	[ Reply ]
Some people move and have intentions of moving back at some point and are willing to pay a little to keep the home that is almost paid off especially if you know of the tenant for some reason or the other. Sometimes the is"no money " in renting especially in today's economy!