Income rises as you get better at your job plus

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Jun 10, 2017
3:34:29pm

Big Daddy D All-American

Income rises as you get better at your job plus

The time you spend waiting to have the bigger down payment is time lost in growing leveraged equity.

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Big Daddy D

Bio page: Big Daddy D
Joined: Jul 3, 2003
Last login: May 4, 2024
Total posts: 39,388 (3,719 FO)

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Messages

Author

Time

Mistake: Don't rent your starter home

jrifkin48

6/10/17 3:23pm

I guess I'm not understanding here. Why not just stay within your budget....

rtNelson

6/10/17 3:25pm

Income rises as you get better at your job plus

Big Daddy D

6/10/17 3:34pm

That plus monthly rent is often equivalent to a mortgage for similar sized homes

Ulysses14

6/10/17 3:59pm

Sometimes work requires you to move. So instead of selling your home you rent it

jrifkin48

6/10/17 3:35pm

Describe your "bad renters." Curious...

MichCoug

6/10/17 4:17pm

I'm seeing several starter home rents in slc county of $2k/month. Doesn't seem

RdF3

6/10/17 3:27pm

That's a city where cost of living is higher

jrifkin48

6/10/17 3:32pm

Yeah. There's 2-3 low-end families sharing that too.

John Doe

6/10/17 3:39pm

I get your generalization, but I've been renting one out for 15 years

GastonCoug

6/10/17 3:28pm

I have had 2 families. The first one was great, the second one has been bad

jrifkin48

6/10/17 3:31pm

I don't even do a deposit. They pay the rent the 1st of the month for the month.

GastonCoug

6/10/17 3:36pm

Worse yet is to rent an executive home to the sister of a friend

Nat Gas Man

6/10/17 3:33pm

Depends entirely on how she looks. 20/20 vision is important.

Twin Roots

6/10/17 3:38pm

What's an executive home?

MormonDevil

6/10/17 4:27pm

$500K+

Nat Gas Man

6/10/17 5:31pm

Sounds like middle class in Utah these days

Ulysses14

6/10/17 5:33pm

that is very true.

Nat Gas Man

6/10/17 5:41pm

I guess Executive homes would push $1M today

Nat Gas Man

6/10/17 6:11pm

Be better at choosing renters. I've never had issues.

Dillinger

6/10/17 3:33pm

I live in the South....its tricky

jrifkin48

6/10/17 3:36pm

I'm in the South als

GastonCoug

6/10/17 3:44pm

Now I understand.

RdF3

6/10/17 3:56pm

Redneck infestations?

mosterlow

6/10/17 4:44pm

A lot of people have a hard time saving for a down payment

6/10/17 3:44pm

I move a lot due to military, have always purchased home and kept it as rental

keithcoug

6/10/17 4:40pm

Yeahmy starter home only had two pools. And you just don't want to rent to peopl

cougarfann888

6/10/17 5:01pm

Mistake: Don't rent to rich Easterners either who are very comfortable squeezing you and suing over everything.

roseyscenario

6/10/17 5:42pm

What is squeezing?

claw

6/10/17 6:01pm

If your tenant screening process sucks the demographic doesn't matter.

shakinbaker

6/10/17 6:06pm

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