Being a Landlord

Me and the BF are always thinking about what we would do with the house that we have now when we eventually buy a bigger house. Would we rent it out or sell it? We are seriously thinking about renting it but we need to know all facets of this.

We have a lot of friends and family who are serious house flippers and landlords. And they ALL have their scary stores which sway me to not even consider renting. A lot of people don’t pay and you more than likely can’t get your money if they don’t. Where I live, you also are not allowed to kick people out (this is probably similar to a lot of places, but I don’t know).

Anyways, if we did rent, there is the potential that we could make a nice profit. We’ve thought about staying in our house for awhile, but we decided that we want more land. We live on less than 1 acre right now, and we both want more once we both have higher incomes. We don’t plan on renting or buying a new house for at least 5 years, as we’ve only lived in our current house for about 2 years.

Related: What You Need To Know About Renting A Room In Your House What are your experiences with renters and rentals?

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