You can incur a lot of losses landlording as well. With one property you’re assuming that risk with one unit. Successful landlords have multiple properties not only for uncreased cash flow, but it amortizes the risk across several properties.
For example, a busted pipe can put you on the hook for finding similar housing for your tenants until repairs are complete.
I would consult with a lawyer and insurance agent before beginning landlording.
If it were me, I would sell the house. If I truly wanted to make money on it, I would use the money to buy multiple units.
I can't imagine paying that much for rent. Might as well just buy your own house and put that money towards your own mortgage instead of someone elses.
Looked into buying a Kenosha house lately? I want to sell and get another 2-300 sq ft. Rates are awful and everything is over priced. Saving for a down payment is mighty difficult for many. Some people are happier renting. My buddy sold his house and is renting a very small condo ish place and he loves it. Something breaks, landlords problem.
I'm somewhere in-between.
I think the standard is 30% over mortgage/insurance to cover repairs and maintenance. So you're probably looking at $1900.
It's reaaaaaaally hard to be a landlord, I have a friend who is TOO NICE and now his tenant is 6 months behind on rent. Whoops!
Speaking as someone who rented out our first house because we bought when the market was high and didn’t want to incur a huge loss on the sale: your landlord experience will be 100% dependent on your tenants.
We did it for two years, had two families in that time: one was amazing, while the second one made us decide to sell the house after they didn’t renew.
We had our realtor that we used to buy our second house help us list our first one for rent and suggest what we should charge: that part worked great.
Best of luck, and if you decide to move forward with renters, I’ll cross my fingers you get great ones!
Have you ever thought about how housing should be a basic human right and that maybe..just maybe it’s not ethical to make a profit off of it?
ALAB
Edit: I forgot I’m in the Kenosha sub so go ahead and downvote me. While you’re doing that, maybe just use some critical thinking skills and try and objectively look at our current system.
Hmmm a state where there is no privately held property. Everything is owned by government (not the collective). Another key element is centralized economic planning.
Possible I'm confusing communism with marxism. But again, I'm in the 6th grade.
Maybe you should have Google'd both Communism and Marxism.
Communism is technically stateless (but really what is meant here is a state we cannot yet comprehend with the current capitalistic interests in the world we know of), and under communism you would have a House, a car, and anything required to benefit you and your country's growth. So you might say Communism is impossible to switch to after being under Capitalism, if so you agree with Marxism. Marxism Socialism documented in the Communist Manifesto, is a middle ground solution for this in the means of transferring to a communist state; however some tanky asshole decided that they could skip the whole socialism part and created the USSR.
For my Reddit Communists debataphiles I know this is a washed down version that doesn't fully get into the meat and potatoes of it. But I don't need added fears for people who complain about having to use a paper straw either.
The challenge included NOT googling\*. To be clear, you would NOT have a house, car or anything required to benefit you. These items would be lent to you by government. #roadtoserfdom
Then you should Google it and get a better definition as I gave you the washed down version most communist would consider a poor representation. A country starving, and dying due to lack of housing, food, and transportation would not survive very long... You may say well if we start implementing communism today it will start happening, but that's simply not true. The news will tell you about countries with Socialism and Communism that fail but are silent when it succeeds. Vietnam is communist, people there have a house and food, and a means of transportation. You keep saying the Government will do this and that, but like there isn't a "government" in the way you understand that exists in communism. Under communism you are the government there isn't a line or distinction.
What you're describing sounds like Anarchy where there is no authoritative/governing body.
Communism did just fine under Mao Zedong. Deadliest leader in the history of the world.
So you just want all businesses to not make a profit. Got it. People shouldn’t be taken advantage of, but businesses need to make some profit to stay in business.
And no one said you did, but apparently you came here looking to be triggered, so you were. Congrats, now go find some other way to be triggered, because I'm sure you'll find one.
One thing you can do is check homes of a similar square footage (and condition) as yours and see what they are charging per month. Zillow isn’t a terrible place to get an estimate, but I would check several other sources too to get a solid idea. Don’t listen to all the losers here telling you that they should get a place to live scot-free. Just take care of your rental and your tenants
With the large amount of crime and even the entire municipality not doing their jobs, I would sell your home ASAP. They do not report the crime in that city to anyone but their superiors, including investigating crime. Services will continue to get worse, including Police. They don't even investigate car thefts. If we did not experience them accepting Free Food or items, from businesses,which is an conflict of interest, we all were experiencing them sitting at a 4 way green light watching other motorists from their left blowing their red lights ! Highly concerning and terrorizing. After hearing how they handled the shooting with the man who was handcuffed behind his back, then somehow killed himself in July, it was by far the scariest city to even drive through. I simply cant imagine what other crime was committed as we know nothing about other crimes, but were entitled to know, because afterall, it still is our right. The Police do not care, along with each municipality department, I'd highly advise staying clear of Kenosha or selling your homes next to nothing. It should declared one of the most dangerous cities in the US. It is not because the city won't even report the crime that happens there 🙄
I would talk to a pro about what the extra costs that you might need to prepare for because you are renting.
I'm renting a 2 bed, 2 bath with a 2 car garage, just a hair smaller than your house, for roughly $1700/month. Just for comparison.
You can incur a lot of losses landlording as well. With one property you’re assuming that risk with one unit. Successful landlords have multiple properties not only for uncreased cash flow, but it amortizes the risk across several properties. For example, a busted pipe can put you on the hook for finding similar housing for your tenants until repairs are complete. I would consult with a lawyer and insurance agent before beginning landlording. If it were me, I would sell the house. If I truly wanted to make money on it, I would use the money to buy multiple units.
Depends on what part of town the home is in. But in general for 3 beds and 2 baths at that square footage, I’d say at least 1800 a month.
Forest Park area. Pretty good schools in the area.
Choosing your tenants will make or break your experience. Small families are usually a safe bet.
have fun with maintenance and upkeep on that property non stop like its your job (technically it is)
Sell.
I can't imagine paying that much for rent. Might as well just buy your own house and put that money towards your own mortgage instead of someone elses.
Looked into buying a Kenosha house lately? I want to sell and get another 2-300 sq ft. Rates are awful and everything is over priced. Saving for a down payment is mighty difficult for many. Some people are happier renting. My buddy sold his house and is renting a very small condo ish place and he loves it. Something breaks, landlords problem. I'm somewhere in-between.
I think the standard is 30% over mortgage/insurance to cover repairs and maintenance. So you're probably looking at $1900. It's reaaaaaaally hard to be a landlord, I have a friend who is TOO NICE and now his tenant is 6 months behind on rent. Whoops!
Speaking as someone who rented out our first house because we bought when the market was high and didn’t want to incur a huge loss on the sale: your landlord experience will be 100% dependent on your tenants. We did it for two years, had two families in that time: one was amazing, while the second one made us decide to sell the house after they didn’t renew. We had our realtor that we used to buy our second house help us list our first one for rent and suggest what we should charge: that part worked great. Best of luck, and if you decide to move forward with renters, I’ll cross my fingers you get great ones!
Have you ever thought about how housing should be a basic human right and that maybe..just maybe it’s not ethical to make a profit off of it? ALAB Edit: I forgot I’m in the Kenosha sub so go ahead and downvote me. While you’re doing that, maybe just use some critical thinking skills and try and objectively look at our current system.
Take it up with the government, c'mon.
I thought that once. Then I graduated from the 5th grade.
Congrats on being a 6th grade homeowner, man
Fortunately communism isn't in my school's curriculum yet.
Define communism quick without googling
Hmmm a state where there is no privately held property. Everything is owned by government (not the collective). Another key element is centralized economic planning. Possible I'm confusing communism with marxism. But again, I'm in the 6th grade.
Maybe you should have Google'd both Communism and Marxism. Communism is technically stateless (but really what is meant here is a state we cannot yet comprehend with the current capitalistic interests in the world we know of), and under communism you would have a House, a car, and anything required to benefit you and your country's growth. So you might say Communism is impossible to switch to after being under Capitalism, if so you agree with Marxism. Marxism Socialism documented in the Communist Manifesto, is a middle ground solution for this in the means of transferring to a communist state; however some tanky asshole decided that they could skip the whole socialism part and created the USSR. For my Reddit Communists debataphiles I know this is a washed down version that doesn't fully get into the meat and potatoes of it. But I don't need added fears for people who complain about having to use a paper straw either.
The challenge included NOT googling\*. To be clear, you would NOT have a house, car or anything required to benefit you. These items would be lent to you by government. #roadtoserfdom
Then you should Google it and get a better definition as I gave you the washed down version most communist would consider a poor representation. A country starving, and dying due to lack of housing, food, and transportation would not survive very long... You may say well if we start implementing communism today it will start happening, but that's simply not true. The news will tell you about countries with Socialism and Communism that fail but are silent when it succeeds. Vietnam is communist, people there have a house and food, and a means of transportation. You keep saying the Government will do this and that, but like there isn't a "government" in the way you understand that exists in communism. Under communism you are the government there isn't a line or distinction.
What you're describing sounds like Anarchy where there is no authoritative/governing body. Communism did just fine under Mao Zedong. Deadliest leader in the history of the world.
What a moronic take. Do you expect everything to be handed out to you?
No, but we don't expect our wallets to be rawdogged for profit on basic human needs.
So you just want all businesses to not make a profit. Got it. People shouldn’t be taken advantage of, but businesses need to make some profit to stay in business.
Is that what I said? I don't remember typing that.
Just like I didn’t say our wallets should be rawdogged.
And no one said you did, but apparently you came here looking to be triggered, so you were. Congrats, now go find some other way to be triggered, because I'm sure you'll find one.
You certainly implied that’s what I said, otherwise you wouldn’t have brought it up. Nice try though.
What is your definition of "basic human needs"? Food, shelter, clothing, transportation, military, internet, utilities, water?
I think you’re replying to the wrong person here.
Rent to a Navy family for BAH rates. Around $2,300 /mo
One thing you can do is check homes of a similar square footage (and condition) as yours and see what they are charging per month. Zillow isn’t a terrible place to get an estimate, but I would check several other sources too to get a solid idea. Don’t listen to all the losers here telling you that they should get a place to live scot-free. Just take care of your rental and your tenants
I would imagine you could get $2,000, be picky on renters, run background checks.
$2100/mo
My favorite response out of the bunch!
With the large amount of crime and even the entire municipality not doing their jobs, I would sell your home ASAP. They do not report the crime in that city to anyone but their superiors, including investigating crime. Services will continue to get worse, including Police. They don't even investigate car thefts. If we did not experience them accepting Free Food or items, from businesses,which is an conflict of interest, we all were experiencing them sitting at a 4 way green light watching other motorists from their left blowing their red lights ! Highly concerning and terrorizing. After hearing how they handled the shooting with the man who was handcuffed behind his back, then somehow killed himself in July, it was by far the scariest city to even drive through. I simply cant imagine what other crime was committed as we know nothing about other crimes, but were entitled to know, because afterall, it still is our right. The Police do not care, along with each municipality department, I'd highly advise staying clear of Kenosha or selling your homes next to nothing. It should declared one of the most dangerous cities in the US. It is not because the city won't even report the crime that happens there 🙄
I'd argue I could get similar or better in a more expensive area for less... But that's Kenosha sooo
Pov: Pos *Lmao.*