Rentors...how much is your rent?

[Wither]

Downtown Brooklyn. The rent is high because it's a "luxury building". This place in the city would run me $5000 a month! Insane. I'll be moving to a neighborhood brownstone when my lease is up, although the perks sure are nice in this place. I had a three-story condo in uptown Charlotte last year that ran $1250 a month hahaha. Silly New York and their nutty ass prices. But... it's NYC. I can't complain too much. Love it here.

Can't hide money.

[Davidson Deac II]

If you're 25 and can afford to buy, why not? Hell, if I move I'll rent it and if I can't rent it, I can afford to hold it. If I have to sell it at a loss to move it, I'll just consider the lost money what I would have spent throwing away money on rent.

My first house was a small one. Bought it 14 years ago when my wife and I got married. Once we could afford to, we moved into a nicer place. We couldn't sell the first house, so we decided to rent it. Making a long story short, I took a bath on it big time. First renter annoyed the hell out of me, calling me when he was drunk complaining about everything, mostly stuff that had nothing to do with the house itself. Finally he moved out, and the second renters trashed it out completely, and then disappeared. Cost me thousands to repair it. Then I finally managed to sell it, albeit for less than I owed and I had to come up with the difference. I would have been far better off just financially, renting an apartment with my wife then eventually moving when we were ready.

I will never be a landlord ever again if I can help it. It just isn't worth the hassle.

[Iceberg Slim]

My first house was a small one. Bought it 14 years ago when my wife and I got married. Once we could afford to, we moved into a nicer place. We couldn't sell the first house, so we decided to rent it. Making a long story short, I took a bath on it big time. First renter annoyed the hell out of me, calling me when he was drunk complaining about everything, mostly stuff that had nothing to do with the house itself. Finally he moved out, and the second renters trashed it out completely, and then disappeared. Cost me thousands to repair it. Then I finally managed to sell it, albeit for less than I owed and I had to come up with the difference. I would have been far better off just financially, renting an apartment with my wife then eventually moving when we were ready.

I will never be a landlord ever again if I can help it. It just isn't worth the hassle.

I've heard these horror stories but "Knock on Wood" I've not had that experience. More than likely because I use a property management company to screen the candidates and contract with them to make repairs if required on the property. I lose a little bit of profit per month for them to do the work, but I have had consistent folks that pay on time and have not torn up the properties.....