Hi <<First Name>>! Happy Easter! This weekend is going to be our busiest Easter weekend ever for us. We're going to an all-you-can-play Arcade for $15 tonight from 9pm to whenever, are hosting a board gaming potluck tomorrow from noon to whenever, and have been invited to Easter dinner on Sunday afternoon. I think I am going to have a fantastic time and spend next week catching up on sleep. :-)
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Ask Crystal
If you have any specific questions for me, just reply to this email and ask away! I highlight one or two questions every week. If you wish to be anonymous, please just let me know in your email.
Kari S asked, "I see on your blog that you consider your area good for owning rentals. How do you go about determining that? My husband and I have considered adding a rental house or two, but we’re not sure where to start looking."
If you can easily make more in your monthly rental income than the mortgage and property taxes cost, I consider that a good area for owning a rental. I know the criteria may need to be more specific and is definitely different for different places, but here in our area of Houston, that's how I would judge a property. We bought a 3 bedroom, 1750 square foot house for $114,000 with 20% down at 5.375% in 2007 and the mortgage and taxes came to about $1000 a month. We refinanced since then and are even paying off the mortgage in the next couple of weeks, but the example is solid. $1000 a month for a place that rents for $1200-$1400 depending on how we price it and how hard I want to search for a tenant. Guaranteed money is why I would buy another rental...
Thanks for being the best readers ever!
Crystal
newsletter@budgetinginthefunstuff.com
P.S. Check out all of these sites for sale! Please email me if you are interested!