Is Landlording A Better Alternative to Selling?

by Mike Yeo on February 6, 2012

Is Landlording A Better Alternative To Selling?

No doubt that the real estate market has recently suffered some downturns. Many Sellers who plan to move on with their lives cannot or do not want to wait for the market to turn around are looking at different alternatives to selling.

Landlording comes to mind.

Is Landlording A Better Alternative To Selling In This Market For You?

Well, it depends on your situation.

(1) First of all, not everyone can qualify for having 2 mortgages in their name. Well, someone else has just made the decision for you.

(2) Even if you can qualify for it, should you?

Here are some points to ponder:

(1) Are you landlord material? Read more on this.

(2) After the landlord material consideration, are you just making an emotional or financially-sound decision?

(3) If the market was not in this condition, would you get into the landlording business in the first place?

When Sellers make this at-first-glance consideration, they assume that:

(1) You will always have a renter in the house (no vacancy ie someone is always there to pay this part of your mortgage)
(2) There will be no turn-over.
(3) There is no repair.
(4) Rent will always be on time.
(5) It is just a simple clean and vacuum, then the For Rent sign goes up again in the yard.

The questions that I have raised are truly significant. They are real and they can make or break you. As much as I believe in real estate, landlording is not for everyone. Landlording is a business and should not be used as an alternative until something turns around. So, make your EMOTIONAL as well as FINANCIAL considerations diligently.

Find out what it takes to become a landlord.


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