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anyone own 2 homes?

phyl Posted:

anyone own 2 homes?

one to live in and one to rent?

wacky Posted:

Re: anyone own 2 homes?

That is our game plan. We will purchase a 2 faimly live in it for a couple of years then rent entire house and buy a one family.

Its a great investment opportunity and we plan on going that route

anna Posted:

Re: anyone own 2 homes?

My parents do. They own a 6family home in Astoria, and they recently bought a single family home to retire in, in Middle Village.
Their 6fam is a great income for them, since its been paid off for many years.

We plan to invest in another home in the future for that same purpose.. who knows... I never liked the 'landlord' thing, seeing what my parents went through (tenants can be a nightmare)...
Im sure its well worth it to them now.

stacedz Posted:

Re: anyone own 2 homes?

My friends are purchasing their second home to rent right now. Just as an investment.

dgtlsunshine Posted:

Re: anyone own 2 homes?

DH and I are looking into it. We go back and forth on it. Right now we are looking for a conod to purchase and rent.

Teri Posted:

Re: anyone own 2 homes?

we plan to do this, hopefully in the near future, but needed to get our primary residence established first

I think it's a great investment if you can afford it.
MarcellaBella Posted:

Re: anyone own 2 homes?

We plan on doing the same thing too. It's def a great investment.. We also plan on purchasing a prop also in a dif state..

RichsBride Posted:

Re: anyone own 2 homes?

yes, we do but we don't have any tenants yet. We have two investment properties that we are in the process of reselling & one that will be a rental in April. I'm a little nervous about being a landlord but I'm sure it will pay off.

junebride04 Posted:

Re: anyone own 2 homes?

we plan on doing the same thing (for investment purposes) hopefully by next year.

yabbobay Posted:

Re: anyone own 2 homes?

we are closing on a townhouse this week and we plan on living in it for 2-3 years...fixing it up and then hopefully we can get another DP together and use that to buy a house and rent out the townhouse

michele31 Posted:

Re: anyone own 2 homes?

my parents do this and just got a 3rd one in FL this week.

Scott and I would like to purchase a condo in FL to rent out, in the next year or two. Real Estate is the only way to make money these days.
Cindy Posted:

Re: anyone own 2 homes?

My brother does this in Florida. He rents them out and in time sells. He makes $ with the sale. He just bought new preconstruction priced condo that my parents are living in half the year and it has already gone up alot. It definetely is the way to go. If you can do it, go for it.

phyl Posted:

Re: anyone own 2 homes?

thanks gals- we are considering this too...but it sounds a bit steep in the beginning
Kathy116 Posted:

Re: anyone own 2 homes?

I wish we bought a second home as a rental property a few years ago.

Our friend started accumulating homes in Suffolk County 15 years ago. He would buy a house IN HORRIBLE condition, and because he's really really handy, on the weekends, he'd fix them up. It took a lot of time, but 15 years later, he has over 10 homes that he owns and lives off the rental income.

He stopped buying homes 3 years ago, he just couldn't believe how much $$$ they want now.

He was buying these fixer uppers for $40-$80 K! I kick myself that my DH and I didn't follow in his footsteps back then!
phyl Posted:

Re: anyone own 2 homes?

ARGH! wow! what a deal...but then again you HAVE to be handy and have the TIME to do this stuff.

we are sorta handy...but nothing like when my dad was alive...he could build/fix anything!

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