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TOPIC: Realestate

from my experience in real 23 hours 8 minutes ago #1

  • JGibbs
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Joker wrote:
I've had rentals and they are a pain if you ask me. Renters tend to not give a d.... what they do to your house. I don't care how many rules and regs you have for them to sign. Be sure you take photos of before and after for the judge in case you have to sue. I had to get rid of them all.
If that happens frequently it could be the area you're in or maybe you're not asking for a high enough deposit. I can't imagine dealing with that. My big fear would be someone getting hurt on the property and suing me as the rental owner.
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from my experience in real 1 day 17 hours ago #2

  • Lexie
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Do you live near any kind of resort area or a place where there is an event going on? I used to live in North Augusta, SC close to where the Masters golf tournament is played. Many, many folks rented their homes out for a week or two during the tournament and made GOOD money. That would be ideal to make the money and still have the home.
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from my experience in real 1 week 12 hours ago #3

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I've had rentals and they are a pain if you ask me. Renters tend to not give a d.... what they do to your house. I don't care how many rules and regs you have for them to sign. Be sure you take photos of before and after for the judge incase you have to sue. I had to get rid of them all.
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from my experience in real 1 week 4 days ago #4

  • Moneyes
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FrugalFran wrote:
Because we move and travel so much, both places are rentals and we aren't at liberty to sublet either one of them.

That gives me another idea. One that I'm sure many people do. Sell your properties and use the proceeds to buy a fully functional motor home. You travel a lot, you need a place to call home........Bada Bing, Bada Boom.

Just a thought.
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from my experience in real 7 months 1 day ago #5

  • Wanderer
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FrugalFran if you are concerned about finances you may have to compromise on something? Could you not lease/rent something near your relatives and clear yourself from the residential asset?
Last Edit: 7 months 1 day ago by Wanderer.
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from my experience in real 7 months 1 day ago #6

Because we move and travel so much, both places are rentals and we aren't at liberty to sublet either one of them. It might seem like it would be a good idea to give up the one in Pennsylvania, but it is our main residence and for the executive home that it is, we have quite a good deal on it. I'd rather not move everything into storage and then scramble at the end of this job to find another comparable house. We also have to keep a residence in that area because I have elderly relatives nearby that we need to stay close to at least part of the year.
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from my experience in real 7 months 2 days ago #7

  • Moneyes
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Lexie wrote:
The only challenge in renting you primary home would be the condition of the home when you returned. Now, if you knew the renters, that would be different. You need someone to treat it like you would and they are hard to find. I speak from experience. Financially though, it is a sound idea.

That's true, but the whole point is that you would not return. The only thing you would be leaving behind is the house itself which you are selling. Rental contracts can have all sorts of addendums as long as they are legal. Simply state that the real estate agent will have a key, do not change the lock the key fits into, the agent will notify you one week prior to visiting for the purpose of checking on the inside condition of the house, and give a 48 hour notice before showing the house. Keep the house on a month to month contract.
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from my experience in real 7 months 2 days ago #8

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The only challenge in renting you primary home would be the condition of the home when you returned. Now, if you knew the renters, that would be different. You need someone to treat it like you would and they are hard to find. I speak from experience. Financially though, it is a sound idea.
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from my experience in real 7 months 1 week ago #9

  • Moneyes
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FrankN wrote:
FRUGALFRAN, have you considered moving to OHIO and renting your PA place until your husband's job is over?

Now there's a good idea. The PA rent could cover the Ohio rent so you would be essentially living rent free if both rents are comparable. Actually, if you rent an apartment in Ohio while renting out a house in PA, you might actually make money on the deal.
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from my experience in real 7 months 3 weeks ago #10

  • FrankN
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FRUGALFRAN, have you considered moving to OHIO and renting your PA place until your husband's job is over?
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from my experience in real 8 months 2 weeks ago #11

I'm in this situation right now because my husband is working out-of-state for the rest of the year. I'm currently at our main house in Pennsylvania and he is renting an apartment in Ohio. The company does give him a daily per diem to help cover the cost of it, but maintaining two places and two sets of bills is a pain in the butt. After this year, he may have the option of continuing work there for another year, but I would never consider buying a house based on a couple of years of work.
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from my experience in real 8 months 2 weeks ago #12

  • Goldbug
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Running two households is expensive, so unless they are certain they can afford it or he can cut costs by a long-term AirB'n'B or sharing with co-workers, you might want to move the whole family into a rental there. Buying a house to live in for two years incurrs a lot of costs you won't get back, and might leave you renting where you are moving and paying a mortgage on an empty home if you can't sell quickly. Unless there's any chance of renting the house out after the two years to give a fallback, it seems like a gamble.
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from my experience in real 9 months 4 weeks ago #13

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This happened to a cousin of mine and he ended up having to borrow money from our family to help find the difference.
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from my experience in real 10 months 1 week ago #14

  • Moneyes
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That's true. I have heard of some cases where the man of the house, the one who is transferring jobs, moves to the new city and just rents out something cheap for himself. Meanwhile, the wife stays behind, works, pays on the mortgage and handles business on that end until the sale goes through.
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from my experience in real 10 months 3 weeks ago #15

I bet that's tough for some people. I don't know if I would be able to afford to rent out a place along with paying my current mortgage. It's even harder when you look at the prices of renting. I know a ton of apartments around me that cost more than my mortgage does.
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