Quote:
Originally Posted by RickFLM4
$900/mo. for a bedroom? I paid $525/mo. for my first 2 br. apartment, which I split with a roommate.
Rental property is a good income source, but just be sure to research and plan for the costs and effort involved in managing the property (and make sure you watch what’s going on right now with people not paying rent).
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Yes, but I would have to furnish it to compete with other apartment complexes and town homes. I figure about $400 per room. Full mattresses and frames + a few cheap dressers. Realistically, they'd probably rent for about $800 apiece.
And you're right, its risky right now, but I feel there is an advantage as my tenants will be students. They are usually well funded and I would imagine aren't as affected by current events.
Always risk involved, but I know I can get them rented with quality tenants in a heartbeat. Would need to have their parents co-sign.