Announcement

Collapse
No announcement yet.

How far is too far for a rental property?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts
    FunkDoc83
    Member

  • FunkDoc83
    replied
    Originally posted by Bmac View Post
    That does not seem like an unreasonable distance at all. It's within a typical commute range for many people. It seems the more important issue is if properties that you can afford in these less desirable areas will provide a decent ROI.
    We are considering whether we want to pay for one house in cash, or put 50% down on each of two properties and have a loan. I've become pretty debt averse, and the idea of having another loan to pay on is less than appealing. I feel like we would be cash flow positive that way, but the rents will be lower in the area we are considering.

    Leave a comment:

  • DollaBill$
    Member

  • DollaBill$
    replied
    Originally posted by FunkDoc83 View Post
    The housing market in my area like many others around the country is very hot. We've been interested in buying a rental property for a little while, but can't find anything local that seems like a good choice for us. There are some towns within 30-60 min drive that are less desirable to live, but have inventory in a price range we are comfortable with. How far away is too far to own a rental property?
    It depends: do you want to actively take care of the property or do you want to hire someone and be passive? if active, I, personally wouldn't want to drive more than 30-60 minutes max. the longer the distance, the more you drive, the less your time is worth as you need to factor in travel time and work time into your overhead and profit. if passive investor, there is no max distance as you are hiring someone to do the maintenance and upkeep so it could theoretically be half way around the world.

    Leave a comment:


  • Bmac
    replied
    That does not seem like an unreasonable distance at all. It's within a typical commute range for many people. It seems the more important issue is if properties that you can afford in these less desirable areas will provide a decent ROI.

    Leave a comment:


  • burritos
    replied
    Ours is 1100 mi. Though this is not advice.

    Leave a comment:

  • FunkDoc83
    Member

  • FunkDoc83
    started a topic How far is too far for a rental property?

    How far is too far for a rental property?

    The housing market in my area like many others around the country is very hot. We've been interested in buying a rental property for a little while, but can't find anything local that seems like a good choice for us. There are some towns within 30-60 min drive that are less desirable to live, but have inventory in a price range we are comfortable with. How far away is too far to own a rental property?
Working...
X