Anyone here /landlord/? What state are you in and how much

>>1157307
shitcago, illannoy
2 units in separate condo complexes
2250/month before expenses, ~700 after mortgage payments and expenses.

>>1157307
oslo, norway
1 appartment
$1500/mo

>>1157307
Florida
4 single family homes, 2.5k /month

>>1157346
Wow is that net income?

>>1157370
yeah... all expenses paid (except for the loan...)
but I am going to sell next year.
I am affraid of a bubble...
prices has gone "to the moon" the last few years..
last year it was a 10% increase in value...
I bought it for 50k$ some ten years ago... and now it`s worth over 400.. so I´m going to sell as soon as the contract expires.

>>1157307
Czech republic
4 units
$1450 per month

I've got 5 doors plus a bunch of RE notes. I make about 90k. Very thankful that I started in RE since I've been recently laid off.

How about any of you post ROI too, cause right now it's pretty useless not knowing the price you paid for your property.

Looking into my first purchase, a side-by-side duplex. I would live in one unit and rent the other. It's in a nice enough neighborhood that as long as I can keep it rented, it pays about 90% of the mortgage. Good idea? Pros/cons?

>>1157577
Florida. 2.5k a month off of 4 houses. Paid 30-35k per house

>>1158068
>>1157367
>>1157346
>>1157313
>>1157307

So jealous of you guys.

Costs a fucking fortune to buy a house/apartment in Australia.

Even with someone renting all year, you still make a loss.

The goal is negative gearing, and you hope the property value goes up...

>>1158154
That's not investing that's banking on the brand of australia, and that you'll do better than say china and other countries keeping immigration high.
Usually a bad sign. In your average neighborhood how many cranes do you see?


also
Have you tried commercial, usually those prices are locked at a reasonable multiple of gross.

>>1157307
Anyone here have a booklist for these things? I have a one great apartment im renting out at the moment and planning to acquire two more this year, first one is loan free, take loans for two more against that and theyll be loan free in 10 years etc... if i can get apartments from areas with a lot of students (in my country the only real choice, goverment backs their rent) for cheap, conaidering main campus's will just get more expensive, their worth is bound to get up.

Italy
2-room apartment
1000€/mo

>>1158213
He's right - betting on appreciation is a fool's game and you can easily lose it all. Only buy properties that follow the 1% rule.

My main goal is to become a landlord I just don't know how much $ I need to start

>>1158920
25k

My mom is, owns 5 properties in SoCal, ~$2500 a month for each one. I'll be in charge of them in the future.

>>1159354
I'd say that's a fair estimate, but I'd add "good credit" to the list of "needs".

That being said, there's a lady on BP (Lisa Phillips, I think) that does podcasts on sub-30k properties, so downpayments for those may even be less, based on financing.

>airbnb my spare room
>$1000-$2000 a mo
> Austin Tx

>>1159970
Hopefully she'll sell and restructure her assets. That sounds like a pile of dead equity.

How high would you set your rent relative to your mortgage? Is zillow's estimate fair? What percentage of rent do you save for emergency repairs?

>>1160082

the zestimate is not accurate

after your first house, how do you continue to grow? let's say you buy $75k properties, that's a $15k down payment plus closing costs, let's call it $20k. at that rate you might only be able to buy a property once every few years. how do people amass 50+ units? do they just take out home equity lines of credit and use that for down payments on new properties -- is this even allowed?

>>1157307
>Dallas area
>Airbnb
>Separate garage converted to living space on property
>Twelve month average income $800.00/mo

>>1157313
how did you get into it? How much work is it every month?

>>1157927
sure but make sure it doesn't need a lot of work. also don't rent to shit heads who will ruin your place

>>1160170
Sorry to reply to own thread but wanted to answer anon's ROI question above:

>Cost to convert garage to living space was ~ $30,000 in 2003.

>Started doing Airbnb in 2010. Airbnb really ramped up in income for us after media reports about Airbnb discussing going public in 2012.

>>1157307
How did you all start? I'm 22 in Uni but one day I would like to own property. Any tips/heads-up for me down the line?

How do I get into RE in an expensive market?

All SFH are at least 400k in decent areas, otherwise I would need to buy something more than an hour away. I heard condos/townhouses are shit investments because you get cucked by HOA in Murcia.

Vancouver, 3 condos, 5200 CAD/mo. Once you subtract taxes+strata fees it's ~4k/mo. Feels bretty gud. Plus the properties appreciated total $200k last year LOL.

>>1160293
Only good for people with existing properties. Absolute shit for acquiring new property.

>>1160304
Yeah. Buying now, you'll pay at least $600k for a place that rents for $1200 and has $200 in fees. Not great imo

>>1160160
anyone?

>>1160171
i live with my parents and put away enough money for a down payment then buy the condos. once the tenants are in it's not much work, but showings are tedious. also having to deal with the association is annoying since they have to issue parking permits and so on for the tenants.

Brooklyn NY
8k/month
Possible 14k/month if I didn't want to live at the house.

Feels good man

>tfw my parents plan on selling my grandparents house and their own house to pay for their motorcycles, trips and inevitable exorbitant medical costs from poor lifestyle and diet
>tfw now I understand why we are lower middle class despite having been in the country for 400+ years
>tfw I'll never inherit anything at all, let alone property
>tfw if you do not own property outright you are a serf

Jesus why? Isn't this essentially killing the goose that laid the golden egg? What is the point of paying a mortgage for 30 years only to immediately sell the property afterwards

>>1157307
In a point form:
>how does one become a landlord?
>is it worth it?

>>1157307
Yeah. Why would you ever let someone live their life without being indebted to you for simply having more cash than they do?
If all of your renters came together with their monthly rent and utilities, they could essentially pay a loan together that would buy the land from you and properly distribute it between people who lived there.
How does it feel to be utterly useless and exploitative?

>>1160460
How does it feel to be a whiny millennial who's jealous of others' success
>m-muh morals

>>1160422
My family is the same way.

>>1160293
got a 1br you could let go for $800 in like burnaby?

>>1160285
Short answer: you don't. Always follow the 1% rule: monthly rent should be 1% of purchase price.

>>1157307
I often thought of working my way up to buy a duplex or something and renting it out, but man, I'm scared shitless of the potential disaster from shitty renters that can't follow common decency.

My landlord right now is a cock, but I'm not going to burn down the place out of spite.

>>1160460
I hope this is bait and you aren't actually retarded.

You realize that people can rent and also have a lot of money. Likewise people can buy that end up losing money.

>>1160538
I am struggling to buy my own home because I need to live in this area, but nothing fits that rule. Should I just buy because I plan on keeping it for many years?

>>1157307
I'm in AZ too but I don't fuck with single homes / multis

mobile home parks son - its a big overpriced parking lot. Worried about tenants fucking your shit up? having to plung toilets? not me - they own the home I just charge them perpetual rent for the land use.

On my end I keep the utilities in order (leading up to their place) - meter them all individually for water and shit

Easy money - also the tax man is nicer with us regarding devaluation so I get to keep more of the money I earn than I would with single / multi / apartment buildings.

Hard to find parks to buy though

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>>1160582
I'm in AZ and would like to know more.

So you buy the lot? Its up to the tenant to plop a trailer on it?

What does a typical lot go for in PHX metro area?

Are your tenants mainly Mexican gangbangers?

What the amount of capital needed to get started?

What are your costs and net income per month? Per year?

You are only responsible for paying to have the utilities delivered to the lot?

i'm not but i want to be.
i've paid off my mortgage and my house is worth like £130,000. it's enough, if i move to a rough area (wouldn't bother me) and buy a shit but large house. something like this...
http://www.rightmove.co.uk/commercial-property-for-sale/property-31151563.html
i'd then live in one room, rent the others out for ~40pw (to a bunch of hand-picked girls, preferably)

either that or i'm considering renting my current place, then moving abroad to somewhere like thailand, and retiring.

>>1160597
Your money can go twice as far in Cambodia or Vietnam.

Cambodia will probably revolt in a few years but Vietnam should be good.

Intel is even making CPUs there now.

>>1160563
I think you're misunderstanding the rule. That rule is to evaluate homes as an investment (i.e. for renting them out)

To evaluate a purchase for your own use, look at what you'd pay in rent vs. pay on your mortgage. Make sure to compare apples-to-apples. So, what does a 3/2 in a certain area rent for vs. what would you pay per month (including taxes and insurance!) to purchase a similar home in a similar neighborhood.

If the price to buy is way over the existing rent, then **don't buy**. In many places (e.g. Canada), the discrepancy is huge, indicating a bubble, and, from what I've read, AUS is in a similar boat. Check out the site www.greaterfool.ca for more info.

Always remember that buying is only a good idea under certain market conditions and there are many, many excellent places to put your money.

>Have 74k in liquid cash
>Live in Upstate NJ, 10 mins from NY

how should i proceed /biz/ ?

is there a bubble about to burst?

currently 18 and inherited money from my grandad. really thinking about taking out a mortage (the cash is unregulated) and having the house pay it off while going to school . thoughts?

>>1160595
>So you buy the lot? Its up to the tenant to plop a trailer on it?

Well trailers are already on it but it costs like 4 to 6k to move them (which means tenants are long term) so if you have empty lots you buy some and move them in. The kicker though is that even if you own it its just more easy cash flow , they buy it as a note (google "lonnie deals") and are responsible for maintenance. So tenants but no toilets to fix.

>What does a typical lot go for in PHX metro area?

No idea , probably a lot though - I imagine lots of deals exist in the many little outskirt towns around phoenix.

>Are your tenants mainly Mexican gangbangers?

And white trash but you make em do background checks same as any land lording - you let scumfucks in your only screwing yourself down the line.

>What the amount of capital needed to get started?

Thats the beauty - lots of these are mom and pop operations and theyll carry back loans so say its a small 11 unit park , 130k or something. If you can get like 15k down the previous owner will carry the rest and you dont even have to get a bank involved.

>What are your costs and net income per month? Per year?

30% of your rent should be allocated to maintenance vs the 50% rule for normal multi or singles. A lot of that is just tree trimming and such and rainy day saving in case the plumbing blows out or something. As I alluded to earlier though you get a 20 year depreciation from the IRS vs nearly 30 years for other real estate which means you end up paying almost no taxes on any of the rental income (and at year 20 you can sell it if you want)

>You are only responsible for paying to have the utilities delivered to the lot?

So you maintain the (hopefully) city sewer and water etc , I wouldnt fuck with a park that was on a well or septic system. Ypu also pay taxes , tree trimming , road maintenance if it has toads - if its a small park you can have a manager take care of the nitty gritty and compensate him

>>1161850
Compensate him with just free rent , a larger park you pay the guy too but he/ they are mostly a lookout "hey some waters pooling at yadda yadda" and thats a suspected pipe leak and then you call it in to fix it.

But it works out to be way less of a % of your earnings than a property manager with multi / singles and again - whatevers inside their trailer / manufactured home is on the tenets - you put in shit on the lease to cover your ass like "no cars on blocks out front , your unit has to have siding , no big dogs allowed" badaboom - its a glorified parking lot.

>>1160030
It's nearly impossible to get a loan for that little. You'd probably need to pay cash

>>1161856
You'd be surprised. Because of the low amount, you can get nonconventional financing. Just check out some of her podcasts

>>1157313
Shitcago here too, manage a building my uncle owns on weekends and get a sweet cut from the rent although it is on the southside. Upside is when he kicks it he has no kids so it'll go straight to me plus any other property he owns.