Is it a good idea to invest like this

[sameer1384]

Is it a good idea to buy brand new home 4bhk individual home and rent to 4 different people for working People in Irving , Dallas Texas area for the next 5 years and want to sell later on . 
Me and my friend want to invest in buying a home 4 bed and 3 bath room single family  or town house and rent working people with furniture .

Do you think it will work out ? Say some pros and cons. We almost decided to go and sign with in a week .I am trying to get different opinions before I step in .

If I buy how can I make sure I will get stable income in that ? I mean how to market and get people always . 

What are the rules and regulations I should set when I give for rent

 

 

[Batman_fan]

Why brand new home if you are planning to lease it out? Owners 5 years lo degrade cheste valu 2 years chandalam chesi potaru. 

Try old home and upgrade it. 

[sameer1384]

2 minutes ago, Batman_fan said:

Why brand new home if you are planning to lease it out? Owners 5 years lo degrade cheste valu 2 years chandalam chesi potaru. 

Try old home and upgrade it. 

Tried looking for old homes. but not able to find the right location .More over its easy to get approval for the newly constructed houses from the builder

[sameer1384]

LTT

[mettastar]

Anni lekkalu eskoni chusko man

[mettastar]

Remember u have to pay taxes on that income

[Luke]

Yes

[k2s]

2 hours ago, sameer1384 said:

Is it a good idea to buy brand new home 4bhk individual home and rent to 4 different people for working People in Irving , Dallas Texas area for the next 5 years and want to sell later on . 
Me and my friend want to invest in buying a home 4 bed and 3 bath room single family  or town house and rent working people with furniture .

Do you think it will work out ? Say some pros and cons. We almost decided to go and sign with in a week .I am trying to get different opinions before I step in .

If I buy how can I make sure I will get stable income in that ? I mean how to market and get people always . 

What are the rules and regulations I should set when I give for rent

 

 

yes man try

by end of year you will be paying more for damages than EMIs

[SA77HI]

2 hours ago, Batman_fan said:

Why brand new home if you are planning to lease it out? Owners 5 years lo degrade cheste valu 2 years chandalam chesi potaru. 

Try old home and upgrade it. 

+1... rent ki isthey vallu ela unchukuntaro teleedu

[SA77HI]

25 minutes ago, k2s said:

yes man try

by end of year you will be paying more for damages than EMIs

enduku thatha bayapedutunnav? 400K lo oka old 10 X 2bed houses teesukundam anukuntunna.. unnanni rojulu untay.. brump thatha vellagottina ikkada rents vasthay kada india lo untey 

[k2s]

37 minutes ago, SA77HI said:

enduku thatha bayapedutunnav? 400K lo oka old 10 X 2bed houses teesukundam anukuntunna.. unnanni rojulu untay.. brump thatha vellagottina ikkada rents vasthay kada india lo untey 

Yeah vasthai vasthai... rent eggodithey? 

[Android_Halwa]

I would not say it would be wiser investment. I mean has its own liabilities. 

First thing is that, one additional head burden of maintaining a home and account for that. Most cases, the rent what you get is good enough to cover the mortgage but its not a stable income so you might have to chip in additional money from your pocket if not frequently but 2-3 times an year averagely. 

You would still have to pay for down payment from your pocket which I don't think will be able to recover by excess rents or what ever left after paying mortgages. So you have to wait for 5 years to recover your down payment after selling the house on condition that the house price appreciates which is uncertain but certainly the house price is going to depreciate as it would be 5 years old house and adding interest mortgage to that, Unless the house price appreciates by 10-15%, You are not actually making real profit. 

On the balance sheet even if the numbers look good, think of the time you have invested in this entire process and calculate the profit you earned after selling the house and calculate the average hours you spent looking after the house,paying mortgages, from the pocket sometimes, looking for tenants, repairs, etc, all that you would have made would be slightly better than delivering the pizzas...and the profit what you earn from this venture, in most of the cases will not be sufficient to fulfill basic needs.

Why don't you invest your time looking for free lancing jobs ? 

A lot of people will encourage to buy a house and give it away for rent in a very positive way like it is the most safest investment option. If it is that safest way, everyone would do the same thing but barely few opt such a route. 

And then again there are people like me who can always think from a negative point of view first and I can find a solution for my answers, then I will look at positive ends. Better be safe than to be s0rry later.

[SNOW_MEGA]

2 hours ago, Android_Halwa said:

I would not say it would be wiser investment. I mean has its own liabilities. 

First thing is that, one additional head burden of maintaining a home and account for that. Most cases, the rent what you get is good enough to cover the mortgage but its not a stable income so you might have to chip in additional money from your pocket if not frequently but 2-3 times an year averagely. 

You would still have to pay for down payment from your pocket which I don't think will be able to recover by excess rents or what ever left after paying mortgages. So you have to wait for 5 years to recover your down payment after selling the house on condition that the house price appreciates which is uncertain but certainly the house price is going to depreciate as it would be 5 years old house and adding interest mortgage to that, Unless the house price appreciates by 10-15%, You are not actually making real profit. 

On the balance sheet even if the numbers look good, think of the time you have invested in this entire process and calculate the profit you earned after selling the house and calculate the average hours you spent looking after the house,paying mortgages, from the pocket sometimes, looking for tenants, repairs, etc, all that you would have made would be slightly better than delivering the pizzas...and the profit what you earn from this venture, in most of the cases will not be sufficient to fulfill basic needs.

Why don't you invest your time looking for free lancing jobs ? 

A lot of people will encourage to buy a house and give it away for rent in a very positive way like it is the most safest investment option. If it is that safest way, everyone would do the same thing but barely few opt such a route. 

And then again there are people like me who can always think from a negative point of view first and I can find a solution for my answers, then I will look at positive ends. Better be safe than to be s0rry later.

thank you, how about a commerical property ? like india bazaar ?

[Android_Halwa]

5 hours ago, SNOW_MEGA said:

thank you, how about a commerical property ? like india bazaar ?

I have no idea about India Bazaar.

[siru]

9 hours ago, k2s said:

yes man try

by end of year you will be paying more for damages than EMIs