.thinking about starting a company like this for years. .brother-n-law tells me him and his wife may attempt a company of the same sort. .i may want in on it, if for nothing but some type of write-off for taxes. .perhaps just as an investor, some cash, advice, and occasional labor. .i would love to own several houses to rent as a landlord, but I’m not really into active management at the moment. .one day, that may be my goal, but for now with only one house owned and expecting to rent it as a hopeful yearly lease – I want to leave it under other’s care and go chase the dollar with engineering contracts. .then as i can afford the next cheap house to buy, gut, & rent, i will figure it out then, but get it under care too.
I figure that if I could one day own 4 houses; paid in full; using today’s numbers:
- 4 houses worth 125,000 each
- Totals investment of 500k
- producing 1,000/mo rent
- 4k/mo cashflow
- there would be maintenance costs & tax costs, even if those costs are around 40%, the profit is around 5.5%
- A twenty year old house should last another 20 or so, that’s a good many years for easy profit.