Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "I really want to get into buying properties, but I'm scared"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]I have owned a couple of investment properties. I quickly found out I was not landlord material when COVID hit and my tenant stopped paying rent. Took me over a year to get him out. That was a year without rental income. Luckily we were able to pay the mortgage. And hopefully, that doesn't happen again for a long time. I had to put 30% down for a mortgage on an investment property. I am not sure if they all require that. You want to make sure that you have a wide enough spread between the rent and the carrying costs. My first property I rented on my own, but when the first tenant moved out, I went with a rental agency to do all the leg work. They took the first month of the lease and then a small percentage each month. It was worth it but it eats into your profit. If you look at it as a long term investment, the mortgage will be paid off by the time you retire and then all the money will be profit. Good luck with your decision. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
