Officially in the landlord club

The tenants have moved in! I’m $650/mo positive based on rent - monthly expenses. That gives me a good cushion for repair/maintenance. If I’d known I was going to rent it back when rates were lower, then I’d have pulled out some equity to reduce my profits/taxes.

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Congrats on having a tenant now!

You still have depreciation to offset the taxes. Right, you could have pulled out some cash out or at least get a Heloc when it was the primary home. Rental is not more expensive to finance.

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Congratulations! Chicken wings on you!!!

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Welcome to the club ! I was also accidentally landed in such club, not professionally trained to be one !

Congrats!! Hope to be in your shoes in the near future :slight_smile:

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Congrats! This is the second best job in the world! (The best one being that of a stockholder) :slight_smile:

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What? I thought that one Bart janitor job was the best???

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Congrats! welcome to the pain and pleasure of being a landlord

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Yeeees, say hello to Schedule E and this one:

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Facebook painter is best ! Still STOCKS !

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See? Painting, whether it is homes or oil portraits, appears to be quite lucrative…

Thanks everyone.

Goes without saying that now you need to keep good records, all of your receipts, and make sure you CYA

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Congrats! :slight_smile: