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11/20/2019 5:07:11 PM
Posted: 10/25/2013 12:23:48 PM EST
So, I just bought a house and a condo up the street went up for sale...

asking 70k, I have 23k in savings I can pull from. going anywhere close to 6k in savings scares me. I would like to keep it above 10k...

I dont know if im getting too close to the line. the idea of extra income is great but the threat of not being able to cover everything is sketchy... I would not be able to cover both properties on 40hrs a week and ot is not reliable right now.

just kinda rambling... anyone have any input?

Link Posted: 10/26/2013 5:35:26 AM EST
What could you rent it out for?
Link Posted: 10/26/2013 9:38:54 AM EST
my buddy had a similar sized place in the complex next to it. he paid 1100 a month with utilities included. I would probably rent it for 800-900 a month with no utilities.
Link Posted: 10/26/2013 4:56:36 PM EST
If you can not cover both payments keep saving up extra money while looking for other places to become available.

It sounds like you know the answer already.
Link Posted: 10/29/2013 2:07:43 AM EST
I've heard a lot of horror stories from Soldiers who became landlords and ended up losing tons of money. Now, admittedly, these were focused in army towns which tend to be kind of crazy but still, after all I've heard, I would rather other forms of investing where I can lose what I put it but I can't lose MORE than I put in.
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