Any of you drivers out there without property?

The idea isn't to make profit in the rent, what your doing is having the renter pay all the costs, while the house builds equity.

 

Pretty much. In short, it's the smart version of a 401k, Roth IRA or any other retirement plan.

 

Rent a CHEAP apartment. I have a cheap, small efficiency for $360. It ain't much, but still beats doing a restart or week off in a sleeper.

 

I must be a weird one. I may not feel like coming home and fixing stuff, but I'd rather come home and fix it myself when I can.

...just something about doing the work yourself. Guess it's a sense of personal pride. But doing it myself makes me happy.

 

Not saying this about him making a profit. He would need to break even before worry about profit. I'm saying what is the point for all the work just to get a tax break.

you are assuming this house or whatever will have a renter for 15-30 years of his mortgage. Consecutively..... and he will never be a month, or two, or a year without a renter. Then what? He has to come out of pocket. Needless in my opinion. I'd rent so if I'm in town I'm there and all I have to worry about is turning the key to enter. Let the landlord worry about all this other needless and possibly expensive stuff.

 

A house typically builds equity faster then 15-20 years.

You dont even have to break even. Just need a profit at the end.

 

not all houses go up in value.... 2008

 

Some houses still haven't recovered. Some are still without this equity you speak of. Some are still hard to sell. Some are still underwater. You get the gist.

 

The wife and I are fixing to go OTR We are selling our house, kids are all graduated and on their own so we are empty nester's ,we plan on living out of the truck for awhile then buying (paid for) a Truck and 5th wheel.. lot rents are cheap (no mowing and very lil upkeep) and its easy to move when you get tired of the scenery and they make some very livable 5th wheel anymore .. the wife really liked a toy hauler we looked at a few weeks back..

http://www.wheelsrv.net/inventory/1231/thunderbolt-380amp.php?manu=xlr

another 1 I liked .

http://www.wheelsrv.net/inventory/1337/laredo-355rl.php?manu=keystone



after living in a closet together for a while these will be like a mobile mansion.. lol

 

Heh. True. The reason behind all that BS was the banks gave loans to every shmoe that walked in and asked. When those houses foreclosed, it caused a drop in value for all the surrounding homes too. When you've got enough cheap, foreclosed homes the market gets flooded and makes the situation worse.

...ends up making is so the only people who can profit are the ones with stable income.