Quote:
Originally Posted by GoVols!
I wouldnt mind renting the condo out if I was moving somewhere nearby so I could keep an eye on it and do any repairs myself. Not really interested in being a landlord from 1100 miles away though. That said, unlike many places, Omaha's housing market never had a big increase in value and so it hasnt really fallen much either. Yeah, the sales pace has slowed dramatically but the market itself hasnt lost but maybe 5% and we still have one of the lowest unemployment rates in the country.
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Sounds like a decent proposition. Its a good time to be a landlord (at least in NE) as occupancy rates/rents are increasing.....people are nervous to buy.
I bought two foreclosures in God's waiting room in early 2010 when the sky was falling and they were almost giving them away. I use a management company at relatively low cost to deal with day-to-day stuff. So far so good - relatively invisible to me....cash positive and probably 20+% gain since then. Long term hold strategy for me.
...not a bad way to build a diverse long term retirement portfolio along with the usual investments if you can swing it.
03-31-2011, 11:23 PM
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