Q. I was wondering how much it would cost to rent a single family home anywhere in hawaii? Or how much it would cost a month to own a single family home in hawaii?
A. Because Hawaii is made up of several islands, the cost of housing really depends on which island you want to live on. Here is some information that explains the differences between each island and they have other helpful resources about moving to Hawaii, as well. http://www.hawaii.com/dream-and-shop/movingtohawaii/movingtohawaii/articles/317/deciding_where_to_live.php
Generally, pricing for single family homes ranges from average to rather high, because land is a precious commodity on the islands. Prices are dropping, so now is definitely a good time to buy. I read on a blog that Prudential released the numbers for housing in their quarterly report. In the report, median ownership prices were around half a million to 600,000 - which is low. http://hawaiirealestatereporter.com/real-estate-trends/maui-q3-real-estate-activity-report/
For rentals, I'd suggest going to rentals.com to find some actual properties that are available now and to compare prices.
Generally, pricing for single family homes ranges from average to rather high, because land is a precious commodity on the islands. Prices are dropping, so now is definitely a good time to buy. I read on a blog that Prudential released the numbers for housing in their quarterly report. In the report, median ownership prices were around half a million to 600,000 - which is low. http://hawaiirealestatereporter.com/real-estate-trends/maui-q3-real-estate-activity-report/
For rentals, I'd suggest going to rentals.com to find some actual properties that are available now and to compare prices.
does anyone encountered any problem after renting single family home?
Q. I am planning to rent my single family home and I am new to renting business. I wanted to know whether anyone encountered any serious problem after renting their home and which is a better option renting the house or selling it. Thanks!
A. Tons of problems! Ask a few landlords in your area and you will get tons of nightmare scenarios. My brother rented his home to a wonderful retired couple. Didn't smoke. Didn't drink. No children. No pets. Paid six months rent up front. He was ecstatic! Month seven he goes to collect the rent and they have no money. It takes him five months to get them evicted because everytime a court date was set it had to be moved because of a health issue. He finally gets the eviction only to find out they had already moved. And they took the central A/C unit, dishwasher, stove, refrigerator, ductwork and all the copper pipe from underneath the house.
Being a landlord is not for the faint of heart. It is a brutal business.
My suggestion is...sell your house!
Good luck!
Being a landlord is not for the faint of heart. It is a brutal business.
My suggestion is...sell your house!
Good luck!
is it illegal to rent rooms in a single family home even if your the owner of the home?
Q. In a single family home that you own but dont live in, is it illegal to rent rooms to different families and not make them sign a lease. If so can the renter sue the owner when they are being harassed about who they have living there?
In a single family home that you own but dont live in, is it illegal to rent rooms to different families and not make them sign a lease. If so can the renter sue the owner when they are being harassed about who they have living there? I'm asking because my wife''s aunt is having this issue and i felt it was illegal to rent the home like the owner is doing, because then i could advise her to take legal action against him. Im only 20 im not the owner just a loving family member trying to help.
In a single family home that you own but dont live in, is it illegal to rent rooms to different families and not make them sign a lease. If so can the renter sue the owner when they are being harassed about who they have living there? I'm asking because my wife''s aunt is having this issue and i felt it was illegal to rent the home like the owner is doing, because then i could advise her to take legal action against him. Im only 20 im not the owner just a loving family member trying to help.
A. It would depend on the zoning of the property. If it's in a subdivision with no other multi-family properties, then is probably a violation.
The question about a lawsuit is over my head. But I'd consider a couple of points before I jumped into court. How much did you know before you moved in (remember ignorance of the laws is no excuse but may be considered). If you force the landlord to move one of you out - where would you go and how much more will it cost you each month.
Good luck, I hope it works for you.
The question about a lawsuit is over my head. But I'd consider a couple of points before I jumped into court. How much did you know before you moved in (remember ignorance of the laws is no excuse but may be considered). If you force the landlord to move one of you out - where would you go and how much more will it cost you each month.
Good luck, I hope it works for you.
How many Houses/Units Do I need to Be a Full-Time Landlord?
Q. I have seed money of 200k. I am choosing to rent out properties as a full-time investment, which means within the next 5 years I want to be doing this full-time.
What is my best strategy?:
Split up the 200k and put 50% on 3-4 single family homes?
Rent out duplexes?
But most importantly, how do I start, assuming Ive done the research and am ready to buy, and when can i start doing it full time living off this income
What is my best strategy?:
Split up the 200k and put 50% on 3-4 single family homes?
Rent out duplexes?
But most importantly, how do I start, assuming Ive done the research and am ready to buy, and when can i start doing it full time living off this income
A. using the 'usual' 65% or so leverage, making a cash throwoff of seven percent a year on invested capital is fairly good. The 'usual' holding time frame is five to twelve years [depending on the property cycle], after which you'll need to reinvest, etc. if circumstances at the time warrant re-investment.
ergo, the short answer is about 15 years minimum.
ergo, the short answer is about 15 years minimum.
Powered by Yahoo! Answers
No comments:
Post a Comment