Quote:
Originally Posted by JSH
Earlier in the thread:
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.
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Ah, I forgot Isaac's situation. Build up the down payment while rent is low.
I considered buying in Portland in 2012, but that was just 2 years after I had purchased my house in Vancouver. I might have been able to swing it, but that's when I met my wife. It would be cash flow positive for sure.
One way to get more rent is to rent individual rooms instead of the whole house. It has drawbacks, like nobody feels responsible to keep the place tidy. You'll never be completely unoccupied though. Leave your mediocre furniture n there and those renting a room will be happy to not have to furnish the place, or pack up everything when they leave.