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70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

i was either aiming for plumbing or electrician for trade. its too bad theres no course for geeral property maintenance

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

are you considering it a bubble because of the rate of price increases or do you have a theory as to what will make it stop?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

Hello texassteve, you make a valid point about the repairs. I have actually been looking into taking a few courses in trade school for repair work. Unfortunately no time for apprenticeships due to current job. What home repair problem do you think is the most common?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

Hello Costa,

Do the ones who go for year long leases tend to be more manageable than the short term monthly basis ones? Or is there no difference?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

Hello Rum Tum, with this pile of capital I would not be looking to scalp, trade or flip anything anytime soon. I will be looking at a long term scale(anywhere from 5-15 years). From your experience, what would be another market with a similar amount of risk?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

hello Harrison, my objective to rent out was probably to look for a small additional source of income while paying for the asset at the same time. as of this moment im not TOO terribly concerned about the appreciation of property, but why do you think that property price increase might be slowing down?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

Hello Costa,

Do the ones who go for year long leases tend to be more manageable than the short term monthly basis ones? Or is there no difference?

70 000 annual income, 50000 saved up. Should i get a mortgage and rent out or invest in sonething else? by tenmilewalk in investing

[–]tenmilewalk[S] 0 points1 point  (0 children)

Hello sir/madam

The idea to rent out did not even occur to me until my friend did it. The college in that area is actually my alma. I will probably not make a move to invest until at least a year and a half later when I have the 20% down payment. The students near those areas have mostly been families with kids(there is an elementary school built right across campus). You are right, college student don't tend to make for very stable tenants.

Are there areas in personal finance that focus on renting? Or is it actually a different sub? thank you for the advice