Quote:
Originally Posted by 58-4ever
Hey CP, we've got a bunch of big dick bandits on here with cash flowing out of their ears, so how many of you own a rental? I may need some advice. I'm looking to gain some passive income without pimping... #pimpin'ainteasy
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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.
