The "I Can't Deal With This Right Now" Thread

[skinsguy]

Originally Posted by mredskins

Wait hold the phone; didn't several years back you gave me a hard time for renting out properties?

I may have, but in my situation, it wasn't by choice that I became a landlord. In fact, I did try to sell the house before I moved to NC, but it never sold. So, instead of leaving it empty and having to pay two mortgages, I offered it to a friend to move in and pay me enough in rent to cover the mortgage and the taxes on the house. Believe me, this house is not a moneymaker for me.

In fact, there's several thousand dollars worth of stuff I need to do to the house to really get it in best shape to sell, but it comes down to putting money into that house or putting money into things I need to for the house I'm living in now (such as replacing the roof, painting, etc...) Honestly at this point, I'd sell the house for what I have left on it just to get it off my hands.

However, if I were to buy up properties in order to rent them out and turn a profit, I would most certainly save the money and buy them straight out. Because having multiple mortgages can become a nightmare!