Hi everyone!! Hope you’re having a wonderful summer day. We just finished recording another episode of our weekly Renting Ranting Quarters podcast.
On this fantastic voyage through the purple and blue skies we fly with a very successful landlord named Mercedes Bankston. She provides us with some powerful insight in the mind of a serial landlord.
We’ll upload this valuable episode Wednesday August 28 so please remember to check back then and watch this on our Roomer Resume YouTube channel or listen to it on Spotify, Apple Podcasts, Alexa, and Google Play.
Thanks for your support and remember peace ✌🏽, 137, and we wish you all success🏡🧘🏽♂️🎤
When you can finally rest easy knowing that you won't lose your rental income, thanks to Steady's rent default insurance. 😌 Don't let your tenants' misfortunes turn your property investment upside-down. Be ready with Steady!
In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home?
Let’s look at both scenarios and analyze the pros and cons of each:
With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of households in 2006 to 36.6% in 2016”. Some choose to rent because it is more convenient for their lifestyle. Those whose job requires frequent moves need the flexibility that a 6-12 month lease agreement gives them so they can move to their next assignment!
Many renters believe that renting is cheaper because they do not have to pay for maintenance and repairs. (Not true! Landlords work those expenses into your rent and other fees). Another reason many rent is that they feel like they cannot afford the down payment and closing costs required to buy a house, due to their inability to save much after paying their monthly expenses.
That can be true! Nearly 1 in 4 renters spend at least half their household income on rent. In 2017 the “severely” burdened renters’ rate was 24.7% with 24.9% reporting they were “moderately” burdened.
Renting also brings some financial disadvantages. Homeowners can take advantage of tax deductions that let them claim their property taxes and mortgage interest. Additionally, there is a big risk that your rent will go up every time you renew your lease, as we know the median asking rent has been increased steadily since 1988!Renting or Owning, What Is Better for You? | MyKCMOne of the major challenges with renting is that you don’t have a space to call your own. When you rent, you are paying your landlord’s mortgage, and therefore they are the beneficiaries of the equity gained from paying that mortgage.
Now let’s explore the other side: Homeownership
In the past, we have mentioned the many financial and non-financial benefits of becoming a homeowner. So, let’s just focus on t
So we’re still not in our new house but we are currently doing some work to our rented property 🙈 this weekend we managed to install a new sink 👍 it’s always annoyed me that the sink has never had a draining board and as you can see from the wooden worktop it had a negative effect! Thankfully we’ve got a brand new working sink with draining board 😁 #newsink#DIY#landlords#landlordsofinstagram#movinghome#notaplumber
Dave makes the list again this year! I can attest to the fact that he’s an exceptional leader and an even better real estate problem-solver. If you want to come work with us - come join our team, we’re growing and hiring. Email your resume to firstname.lastname@example.org or email@example.com. Better yet, come meet our whole team next Tuesday for a round of craft beers and a game of Mortal Combat at our office! DM if I should count you in 🕺
Rent prices are on the rise! And there's no sign of them slowing down. While this may seem like great news for landlords, there are some risks you should be aware of! 👀 Find out what they are in the latest from our blog. Link in bio!
Cap rate is arguably one of the most important rental analysis tools in real estate. But what exactly is a good cap rate for an investment property? Get the low down in the latest from our blog. Link in bio!
Kendra Barnes is a full-time real estate investor and founder of @thekeyresource. She currently owns and manages 4 properties, and those investments afforded her the ability to retire at age 32. THIRTY. TWO!
In today’s episode of #IDontDoBudgets , she’s sharing some game-changing knowledge for new real estate investors, and talking about how she house hacked to financial independence. Don’t miss this one - I learned SO much, and know that you will too!
Are you familiar with house hacking or do you know someone that has house hacked? 👀🏡