Comments on: The Dreaded “R” Word: Renting http://www.flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/ House Flipping Advice and Home Renovation Projects Sat, 20 Feb 2010 18:40:13 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Mary http://www.flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/comment-page-1/#comment-139 Mary Wed, 31 Oct 2007 03:31:02 +0000 http://flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/#comment-139 I am fine with the idea of renting since a long time holding a rental is sure to bring in more $$ in the future. We just bought some property that we were not sure of whether to rent it out or sell once we were done. We've decided to fix it up, paint it clean it and rent it for a few years and go back and consider a sale than. It will bring in enough to cover the mortgage on it plus taxes & insurance. I hope you can find peace with this and know that you have not failed but are taken another route. I am fine with the idea of renting since a long time holding a rental is sure to bring in more $$ in the future. We just bought some property that we were not sure of whether to rent it out or sell once we were done. We’ve decided to fix it up, paint it clean it and rent it for a few years and go back and consider a sale than. It will bring in enough to cover the mortgage on it plus taxes & insurance.
I hope you can find peace with this and know that you have not failed but are taken another route.

]]> By: Aaron http://www.flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/comment-page-1/#comment-138 Aaron Tue, 23 Oct 2007 05:02:33 +0000 http://flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/#comment-138 I just returned to reading your blog after a couple of months sabbatical. I like the results of your rehabbing visually-speaking, but it sucks that you're having difficulty getting bites. If you did rent the place, would you still try to sell it? Or would you get back into landlording and hold the property as an investment? A downside of investment, to us readers, is we don't get the opportunity to see how the complete deal netted--and you don't either, until you finally sell it. Being able to sell it would give you a real indication of the actual monetary value of the improvements you have made. Another thing I'm curious about is your monthly burn rate at this point; how much are you paying in carrying expenses (eg mortgage interest) that you do not beleive are contributing to equity in the property? I just returned to reading your blog after a couple of months sabbatical. I like the results of your rehabbing visually-speaking, but it sucks that you’re having difficulty getting bites.

If you did rent the place, would you still try to sell it? Or would you get back into landlording and hold the property as an investment? A downside of investment, to us readers, is we don’t get the opportunity to see how the complete deal netted–and you don’t either, until you finally sell it. Being able to sell it would give you a real indication of the actual monetary value of the improvements you have made.

Another thing I’m curious about is your monthly burn rate at this point; how much are you paying in carrying expenses (eg mortgage interest) that you do not beleive are contributing to equity in the property?

]]> By: Paul http://www.flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/comment-page-1/#comment-137 Paul Mon, 22 Oct 2007 18:42:20 +0000 http://flipthyhouse.com/2007/10/21/the-dreaded-r-word-renting/#comment-137 you might think about "rent to own" scenario. I wrote about it at http://extremeperspective.blogspot.com/2007/09/rent-to-own-lease-purchase-real-estate.html I get rents 20% above market rents, the tenants take care of all repairs and I get a large up front option payment. I get literally hundreds of calls in this area just putting up a sign. you might think about “rent to own” scenario. I wrote about it at

http://extremeperspective.blogspot.com/2007/09/rent-to-own-lease-purchase-real-estate.html

I get rents 20% above market rents, the tenants take care of all repairs and I get a large up front option payment. I get literally hundreds of calls in this area just putting up a sign.

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