I rented for two years and my tenant was an IT professional so rent had never been a problem. The rent was good enough to cover everything (mortgage, tax, and insurance). Theoretically it was a great deal as the house would be mine for free after 15 years of renting. The only investment was my down payment. But he had three dogs and my house looked so bad after two years. He also asked me to pay new AC, stove and dishwasher... I got tired of the work so sold the house last year...
I found that if you want to do real estate, it is better to buy several houses or apartments. Having one is time consuming and the income is trivial. |