Quote:
Originally Posted by chinaski
We have two. We use property management companies for both. Both generate positive cash flow, but all money is saved in case of problems/maintenance. For example, last year we had to replace the HVAC system on our Texas house. Approx 6k. We had the money saved, so no big deal. Year before that, it was a fence that needed replacing. About 2k.
So...my advice is to not treat it as income and bank any "profit" for the inevitable problem.
We also own a Cabin in the Southern California Mountains, but we don't rent that. It's our getaway place.  |
So, essentially, you are just building wealth and a retirement egg when you sell them?