Comments on: Would it be wise to buy a house, rent it out, and then sell it after I pay off the mortgage? http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/ Sell your house fast with Sell House Fast Mon, 28 May 2012 03:16:05 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Daniel S http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-736 Daniel S Sat, 13 Jun 2009 14:49:49 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-736 hey......i had a similar kind of problem..then i visited the website n all my confusions are solved....just check it out hey……i had a similar kind of problem..then i visited the website n all my confusions are solved….just check it out

]]> By: lady9780 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-735 lady9780 Sat, 13 Jun 2009 11:36:26 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-735 The big question is can you afford it. Once you buy the house (and the construction is finished) it may take several months to get it occupied. So you will have no income (from the house). Also, if anything goes wrong with the dwelling (as things tend to do), you would be responsible for any repairs. Since it is a brand-new property, you could probably get away with pricing it out a little higher than older properties of similar size. Conversely, depending on if that market offers utilities, you may be able to offer it at a reduced price, but have the tenets pay those. The first hurdle I foresee is your credit. What is your rating? Many college students don't know. Every point below 700 can cause you thousands of dollars in interest. Is this something you really want to do? This means (assuming you have it) keeping the lawn mowed and watered in the summer and making sure the outside of the dwelling is maintained. After all, you would be the owner. The big question is can you afford it. Once you buy the house (and the construction is finished) it may take several months to get it occupied. So you will have no income (from the house). Also, if anything goes wrong with the dwelling (as things tend to do), you would be responsible for any repairs. Since it is a brand-new property, you could probably get away with pricing it out a little higher than older properties of similar size. Conversely, depending on if that market offers utilities, you may be able to offer it at a reduced price, but have the tenets pay those.

The first hurdle I foresee is your credit. What is your rating? Many college students don’t know. Every point below 700 can cause you thousands of dollars in interest.

Is this something you really want to do? This means (assuming you have it) keeping the lawn mowed and watered in the summer and making sure the outside of the dwelling is maintained. After all, you would be the owner.

]]> By: shanna j http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-734 shanna j Thu, 11 Jun 2009 04:09:42 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-734 the problem with this is that even though it is close to a college and you would think that someone would always be renting it for 30 yrs...is that its not logical. you are tlaking about a pretty nice house that most college kids don't have the money to pay rent for and a house that might not always be rented out. therefore if someone was not renting it you would be stuck with that house bill as well as your own. it is easier and wiser to own a house before you rent it out...pay off the mortgage. it can leave you in a bind if it is not rented out. and just because its around a college does not insure that it will be rented. it would take more than one college student to pay the rent on that house and also when dealing with college students think about the damage that the house will sustain that you most likely will be foreced to fix. taking down the value of the house as well as money out of your pocket. the problem with this is that even though it is close to a college and you would think that someone would always be renting it for 30 yrs…is that its not logical. you are tlaking about a pretty nice house that most college kids don’t have the money to pay rent for and a house that might not always be rented out. therefore if someone was not renting it you would be stuck with that house bill as well as your own. it is easier and wiser to own a house before you rent it out…pay off the mortgage. it can leave you in a bind if it is not rented out. and just because its around a college does not insure that it will be rented. it would take more than one college student to pay the rent on that house and also when dealing with college students think about the damage that the house will sustain that you most likely will be foreced to fix. taking down the value of the house as well as money out of your pocket.

]]> By: Turbo Baby http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-733 Turbo Baby Sun, 07 Jun 2009 23:06:58 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-733 Not a bad idea. But do yo have a part time job as well? Depending an the Fair Market Rent in the area, you may not meet the Mortgage Payment,Taxes and Insurance on the property. Also keep in mind That there will be maintenance costs, as well an insurance policy with rent loss insurance. Not a bad idea. But do yo have a part time job as well? Depending an the Fair Market Rent in the area, you may not meet the Mortgage Payment,Taxes and Insurance on the property. Also keep in mind That there will be maintenance costs,
as well an insurance policy with rent loss insurance.

]]> By: Krissy http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-732 Krissy Thu, 04 Jun 2009 17:06:10 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-732 Well it sounds like a good idea. But weigh the Pros and Cons. Pros: easier to pay off mortgage and make a little extra money. Cons: think of the repairs on the house from the people renting. My parents had a rental building with apartments and they hated it. Some of the people who rented didn't take care of the place and ruined the walls, carpets, windows etc. There is a lot of responsibilities in being a landlord. What if the people don't pay their rent? Good luck getting them out. There are laws in some states that protect the "tenant". Could take you a few months to get a tentant to move out. Think about it long and hard before committing. Good luck. =) Well it sounds like a good idea. But weigh the Pros and Cons.
Pros: easier to pay off mortgage and make a little extra money.

Cons: think of the repairs on the house from the people renting.
My parents had a rental building with apartments and they hated it. Some of the people who rented didn’t take care of the place and ruined the walls, carpets, windows etc. There is a lot of responsibilities in being a landlord. What if the people don’t pay their rent? Good luck getting them out. There are laws in some states that protect the “tenant”. Could take you a few months to get a tentant to move out. Think about it long and hard before committing. Good luck. =)

]]> By: Mortgageman http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-731 Mortgageman Tue, 02 Jun 2009 10:54:58 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-731 How are you going to get a mortgage, if you are a college student? How are you going to get a mortgage, if you are a college student?

]]> By: ed m http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-730 ed m Sat, 30 May 2009 17:24:55 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-730 first how much of a handy man are you and how much free time do you have == you can get a management company to handle all the repairs and find renters etc but that will come out of your pocket. also it would not be a great tax write off since i take it as a student you do not have any real money coming in. also you can check it out but do not be surprise if you are unable to find any one to loan you the money unless you are going to come up with a super and it mean super down payment. but if you go for it i will wish you good luck. first how much of a handy man are you and how much free time do you have == you can get a management company to handle all the repairs and find renters etc but that will come out of your pocket. also it would not be a great tax write off since i take it as a student you do not have any real money coming in. also you can check it out but do not be surprise if you are unable to find any one to loan you the money unless you are going to come up with a super and it mean super down payment. but if you go for it i will wish you good luck.

]]> By: Janice 10 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/comment-page-1/#comment-729 Janice 10 Wed, 27 May 2009 15:46:47 +0000 http://www.sellhousefaster.co.uk/rent-house/would-it-be-wise-to-buy-a-house-rent-it-out-and-then-sell-it-after-i-pay-off-the-mortgage/#comment-729 Real Estate is a excellent investment, and a home purchase is great. My hesitation is to renting it out to college students, who could destroy the property, hence loosing on your investment, or NOT paying the rent at all. Be very selective in choosing who you would rent to, have them fill out applications and check references, and require two months security deposit. Best Wishes and Welcome to The World of Real Estate! Real Estate is a excellent investment, and a home purchase is great. My hesitation is to renting it out to college students, who could destroy the property, hence loosing on your investment, or NOT paying the rent at all. Be very selective in choosing who you would rent to, have them fill out applications and check references, and require two months security deposit. Best Wishes and Welcome to The World of Real Estate!

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