Renting to the super rich - who does it?

8 Replies

I ran across this little blip on zillow:

Most expensive rentals in LA

So I looked closer to home:

Most expensive rentals in Philadelphia

I know that there are huge mansions in NJ that I guess get rented to? CEO's or movie stars?

I know you'd have to have deep pockets to head down this road but I was curious if anyone here does this. Is it even profitable?

Regardless, it's fun to look at. 

It is definitely fun to look at. There is no disputing that fact. As to if it is profitable.... I doubt it. I think most people that own that type of a home are renting it out as they aren't living there and can't get their $$$ back out. How often do you see articles where actors are selling their homes at a loss.. 

Who owns them my guess would be: Ceo's, athletes, and actors. They have a relocation and have to do something. I can't even fathom blowing 100k a month on rent. 

There are old estates that pop up here and there - multimillion dollar places that have several "guest cottages" on the property. How much fun would it be to house hack there!

Man even if I had that kind of money I wouldn't spend it on that. There is a lot that can be done with 8M. 

Originally posted by @Ceril S. :

There are old estates that pop up here and there - multimillion dollar places that have several "guest cottages" on the property. How much fun would it be to house hack there!

 Kato, never again.  OJ

Originally posted by @Ryan Dossey :

Man even if I had that kind of money I wouldn't spend it on that. There is a lot that can be done with 8M. 

 That's where you hope you got in on that at 1M at foreclosure! Hmm 1M at foreclosure - what kind of rehab costs get you 50k a month in rent?

I bet they spent a few M.

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