May 15, 2019
1:07:16pm
1:07:16pm
rent same as mortgage = you will lose a lot of money, at least near term
you need to factor into your equation:
- vacancy (over the long run you will eventually have weeks/months without rent
- repairs (you are responsible for most things, including big-ticket items)
- property management fees (you may/should decide this is the right thing to do, or you may end up hating this burden you have purchased).
your rent should be around 30% higher than your mortgage for you to be comfortable with covering the above IMO.
- vacancy (over the long run you will eventually have weeks/months without rent
- repairs (you are responsible for most things, including big-ticket items)
- property management fees (you may/should decide this is the right thing to do, or you may end up hating this burden you have purchased).
your rent should be around 30% higher than your mortgage for you to be comfortable with covering the above IMO.
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- JackStack
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5/15/19 12:54pm
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