Advice please!!!

carolaprefontaine

Hello
Short story... I inharate 4 properties (2 small houses, 1 medium one and 1 big one). My "plan" so far is living in one of the small ones with my husband and rent the other 3. My question is you think is possible and realistic living on rents?


I have a very "laid back" livestyle, I dont own (and dont want) a car, I only change my laptop or cel phone when the they broke, I dont go out partying, 90% of my meals are home made, no kids. All the houses are mortgage free

So basicly I will just be spending in water, electricity, phone, cable, internet, food, health insurance (very cheap in my country), and taxes for the houses.

I basicly ask this cos I dont work so I will like to know if i can live ok on rents?

thanks you

Guest101

Im not sure what kind of question this is, of course u can live on rent.

but i dont think ur ready to be a land lord. if u do want to do this, u need to understand the law and the rsponsibilities you have.

google: being a landlord, read up about it

ging84

Depending where these properties are, assuming somewhere in UK, 1 Large house will rent out for more than a lot of people earn

carolaprefontaine

Im and live in Costa Rica, All the houses as well are in a very good neighborhood , dont know guess Im asking cos for some reason Im not very sure.

Guest101

carolaprefontaine wrote: »

Im and live in Costa Rica, All the houses as well are in a very good neighborhood , dont know guess Im asking cos for some reason Im not very sure.

Well then most people will be guessing. but i would guess you can live off of the rent

Pollycat

Surely it's very easy to work out.

Check what similar houses are being rented out for and add up the total.
Check the demand for renting similar houses.
Based on likely demand, factor in a proportion of months that you may not be getting rent on the properties.
Build in a percentage for repairs/redecoration/damage.

You can get information above from a letting agency - assuming there are some in Costa Rica.
You could also consider using a letting agency to manage the properties. however, they will take a percentage of the rent as fees.
That works in the UK but I doubt many people on here will know the Costa Rica letting business very well as this is a UK website.

It may make a difference to your plan if you are considering letting to residents or holiday makers.