View Single Post
Old 01-20-2023, 11:36 PM   #1125 (permalink)
JSH
AKA - Jason
 
JSH's Avatar
 
Join Date: May 2009
Location: PDX
Posts: 3,481

Adventure Seeker - '04 Chevy Astro - Campervan
90 day: 17.3 mpg (US)
Thanks: 306
Thanked 2,053 Times in 1,387 Posts
Quote:
Originally Posted by redpoint5 View Post
Read the fine print and consider your options. The general advice is if you're not going to move in the next 5 years, you're better off buying than renting.

Earlier in the thread:
Quote:
Originally Posted by Isaac Zackary
I paid $500 for my trailer home 11 years ago and am quite happy with my purchase. I just hope the owners don't die or something because then the land would fall into someone else's hands and they would very, very likely raise the rent. I would probably tear down the trailer and take it to a landfill if that happened.
Quote:
Originally Posted by redpoint5 View Post
I don't know how you're paying less in rent than to purchase, because I've never seen a mortgage cost more than renting a comparable space. The whole point of owning a rental is to get renters that pay more than the monthly expenses.
My wife and I did not buy a rental in the Portland area because we couldn't find a property that would cash flow positively with a mortgage with a reasonable amount held back for vacancies and repairs. Rents are high but not high enough to make money if you are buying a property with a loan. We would have needed to put money in every month with the idea that appreciation will continue and we would get that money back. I'm not willing to take that bet.

A coworker of mine is. He has a rental that is generating negative cash flow fully rented.
  Reply With Quote
The Following User Says Thank You to JSH For This Useful Post:
wdb (01-22-2023)