WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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What the heck, tell us how old you are, what health you and your spouse are in? Give us all the gory details and I bet we can get you 20 different opinions on whether to go fulltime or not, even if you can or cannot afford it.
I love one guys signature, LIFE IS SHORT, DEAD IS A LONNNNNNG TIME.
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RVcrazy
Puyallup, WA, USA
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Joined: 09/01/2003
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Well... I don't see many here encouraging me to rent it out! I guess we'll just have to work awhile longer. I'm just looking for ways to "get out" early. I really want to fulltime. My husband doesn't. I'm hoping that he will catch the bug after some time on the road, but he wants to keep the house. Time will tell. I expect we will be snowbirds at least. Thank you all for sharing your experiences and opinions. Somehow, I was hoping for more happy tales of rentals gone right instead of wrong.
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firedude
On the road
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Joined: 01/21/2003
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WTTCS wrote:What the heck, tell us how old you are, what health you and your spouse are in? Give us all the gory details and I bet we can get you 20 different opinions on whether to go fulltime or not, even if you can or cannot afford it.
I love one guys signature, LIFE IS SHORT, DEAD IS A LONNNNNNG TIME.
Wacky isn't that what people are seeking here?????????? Opinions???
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Jack_Jack
NE Oklahoma
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Joined: 12/07/2005
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I would let bugs, snakes, rats and etc take over my house before renting again.
Does 6 inches of rabbit poo in every closet, 18 BIG bags of trash, just from the kitchen, a broke down washer full of water sitting in the middle of the kitchen......the list goes on and on, tell you any thing????
She was behind many months of rent when I tried to get her out. But, she had a small child and another one due. Could not get her out, then found out her SO was living there too, plus an older son.
When I finally got her out, she told every one(small every one knows every one town) that I had kicked her and her baby out on the street. My attorney had her served with papers for back rent, damages etc, and they just happened to find her at the local baseball field, where her oldest son(that I did not even know about) was on my son's team. Not a pretty site, as she was really hacked off when no one would listen to her hard luck story any more. Never got a penny and NEVER rented it out again either.
Don't do it!!!!!!
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trkrhelp
On The Road
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Joined: 06/20/2003
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firedude wrote:WTTCS wrote:What the heck, tell us how old you are, what health you and your spouse are in? Give us all the gory details and I bet we can get you 20 different opinions on whether to go fulltime or not, even if you can or cannot afford it.
I love one guys signature, LIFE IS SHORT, DEAD IS A LONNNNNNG TIME.
Wacky isn't that what people are seeking here?????????? Opinions???
And what would be the point of having a forum in the first place if we all had the same opinion
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trkrhelp
On The Road
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Joined: 06/20/2003
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RVcrazy wrote:Well... I don't see many here encouraging me to rent it out! I guess we'll just have to work awhile longer. I'm just looking for ways to "get out" early. I really want to fulltime. My husband doesn't. I'm hoping that he will catch the bug after some time on the road, but he wants to keep the house. Time will tell. I expect we will be snowbirds at least. Thank you all for sharing your experiences and opinions. Somehow, I was hoping for more happy tales of rentals gone right instead of wrong.
I don't think you'll find anyone here who'll tell you that fulltiming will work unless BOTH of you are TOTALLY into it. If you want to go and he doesn't it will never work long term so keeping the house is a good idea. As I said earlier - take some month or two long trips and see how it goes. He might catch the bug on a month long trip - all you'll catch is flack on a year long trip. JMHO
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Aktravler
Retired from Alaska, On the road
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Joined: 05/16/2002
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Note that the ones who have dealt with renting, for any length of time tell similar stories.
Sure there are great experiences, I had nice folks renting one of our houses, they bought it eventually (after 4 years) but during the rental period there were several times they couldn't make the rent, one house fire, and they littered the back woods with "burned" trash consisting of cans and bottles because they didn't want to pay for trash service. The small cottage seemed to only draw deadbeats. Too much to bother writing about all of them.
It was nice that my annual trips to check out the properties were deductible on Schedule E, but...that's the only good thing I remember. For sure NOT the 3am phone call that the fire in the big house was out...
You really really need to make sure you have at least several months of mortgage and utility payments in your bank. Make sure you understand the tax laws for rental property including depreciation, and the 2 out of 5 rules. LOTS of folks don't understand that. Download Schedule E from the IRS web site and read it.
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88beast
pa
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Joined: 11/06/2007
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imo its a good idea if your house needs to be rehabed to go on the market so see if you can remodel the home and sell it for more than youd get now and a remodel in a year or 2
then if its possible to breakeven or gain profit then go for it rember you can choose to raise the money to rent it
or find someone looking to rent to own and tell them one year no obligation renting on your part and then if u like fulltimeing ask them to buy if not tell them your plans changed then you can either sell to them and buy new (smaller to accomadate your new 2 month trips) or just kick them out
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