Revenue Steam from Rental [split from Why are you on the road ...]

[Queen]

... The "lets keep the s&b so we have something to come back to" would be step one, and since we own it outright step two might be renting it out and creating a revenue stream from it...

 

[Optimistic Paranoid]

and since we own it outright step two might be renting it out and creating a revenue stream from it...

If you're seriously thinking of doing this, you should probably begin doing a lot of research on how it works, what kind of insurance you'll need and how much it will cost, hiring a property management company and what THEY would cost, how much of a problem it is to evict someone, etc.

It's hard enough being a landlord when you're in the same town to keep an eye on things.  It only takes ONE tenant-from-hell  to cause thousands of dollars in damages, and/or interrupt your revenue stream when you most need it.

I'm not saying DON"T, I'm saying look carefully.

Regards
John

PS:  Sorry, didn't mean to hijack the thread . . .

 

[Almost There]

... Creating a revenue stream from rental is great but only if you've someone who can be on call in case of problems with either the tenant or the s&b itself. I've watched multiple tenants in the other units here and there's no way I'd ever become a landlord. ...

 

[Queen]

I used to be a property developer/manager for the county mental-health system, I've said for years I wouldn't be a landlord for all the tea in China. But if a property management company locally wants to handle it all, not break the bank, it's something I'd consider. Mostly, I want to sell up and leave and live on the road... that whole being in love thing throws all sorts of obstacles up! LOL

 

[Ella1]

step two might be renting it out and creating a revenue stream from it... then ditching it altogether and using the proceeds to live on!

and since we own it outright step two might be renting it out and creating a revenue stream from it...
if a property management company locally wants to handle it all, not break the bank, it's something I'd consider.

You might consider searching the fora and blogs at http://www.biggerpockets.com/forums maybe particularly http://www.biggerpockets.com/forums/categories and
http://www.b

 

[Ella1]

my cp stopped and my previous post is incomplete.



You might consider searching the fora and blogs at http://www.biggerpockets.com/forums maybe particularly http://www.biggerpockets.com/forums/categories and
http://www.biggerpockets.com/forums/52-rental-property-questions-landlording-issues

BiggerPockets Ultimate Beginner's Guide to Real Estate Investing
http://www.biggerpockets.com/real-estate-investing

Property management interview questions
4 Revealing Questions to Ask Prospective Property Managers by Conor Flaherty
http://www.biggerpockets.com/renews...estions-to-ask-prospective-property-managers/

20 Questions To Ask Before Hiring Rental Property Management! By Chris Clothier
http://www.biggerpockets.com/renewsblog/2014/03/12/questions-for-hiring-property-management/

Landlords: 8 Tips for Hiring the Best Property Manager
http://www.biggerpockets.com/renewsblog/2011/02/25/hiring-best-property-managers/