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20 Something Moms 20 Something Moms

Any mommies out there own rental property?

Posted by on Jun. 16, 2013 at 5:28 PM
  • 4 Replies

What's your experience like, do you do self mantinence? Or have a management company take care of any care or issues? Do you use back ground checks or forgo that just making sure they have a steady income.

what are your requirements?

im asking because hubby and I have always planned on becoming rental property owners, and we knew we would start sometime in out thirties after we found our own permanent residence. (We need a bigger home we live in a 2 br 1b and converted garage but its so cramped with our family of 5 and as the kids get older will just feel more so)

however our mortgage loan was just forgiven (as hubby's grandmother held the loan and she just passed) she has other properties and now we may be given the chance to purchase one of the other homes, once we actually used to live in.

it would be a great way to start our endeavor, and the new mortgage would be the same as what we are paying now. Plus the insurance for the new home.

by on Jun. 16, 2013 at 5:28 PM
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Replies (1-4):
kimmaylove013
by Bronze Member on Jun. 16, 2013 at 5:51 PM

Guess not lol

k9l1c5
by Ruby Member on Jun. 16, 2013 at 5:56 PM

Bump, not me.

yayay15
by on Jun. 16, 2013 at 5:59 PM
We own a townhome and do all the maintenance. We require at least a C for their credit. A lot of people that are renting might not have the best credit so you have to take that in to consideration.

We try to find people without pets but would allow small ones for a fee


Our last renters never called us but our current ones, call us for EVERYTHING! We are always very nice and helpful though.
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kimmaylove013
by Bronze Member on Jun. 16, 2013 at 7:50 PM

Thanks for your input, we both come from families that made a living with rental property tho I can't get much advice from my grandfather as most of his was hotels.

his grandparents IMO didn't do it the smart way, the house we currently own used to be one of their rentals it was wreck when he first moved in, rented it for a while and we moved to one of their other rentals the same thing for other reasons we moved back and decided to buy it from his grandmother there where people here for 6 months while we were in the other house again more damage, and no first and lasts of deposite for the repairs. And a lot of months they either where really late to pay or skipped a month all together. She also had to formally evict someone who had abandoned one of the rentals it took 3 months to get into the destroyed house they literally shoveled garbage out of a the house and didn't even bother opening the fridge they just replaced it.

i just think they are not a good example for follow.


Quoting yayay15:

We own a townhome and do all the maintenance. We require at least a C for their credit. A lot of people that are renting might not have the best credit so you have to take that in to consideration.

We try to find people without pets but would allow small ones for a fee


Our last renters never called us but our current ones, call us for EVERYTHING! We are always very nice and helpful though.



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