Wooderson
Fight The Power
It looks like with in the next month I will become a first time landlord. We debated selling the home and could of made a profit but have decided instead to rent it. We plan to use it as an investment with hopes of selling it down the line for a better profit.
We will be able to rent for the same amount of the mortgage we pay. We would be out the cost of the property management group $65 the cost of utilities $75 and of course any repairs that might be needed.
I plan to have a separate account that I use only for the rental house. I hope to have about 10K in that account for just in case funds.
Any other tips you landlords could give me?
Tax deductions?
I hope this can be a running thread for all landlord questions.
We will be able to rent for the same amount of the mortgage we pay. We would be out the cost of the property management group $65 the cost of utilities $75 and of course any repairs that might be needed.
I plan to have a separate account that I use only for the rental house. I hope to have about 10K in that account for just in case funds.
Any other tips you landlords could give me?
Tax deductions?
I hope this can be a running thread for all landlord questions.