I knew that title would grab your attention. I'm 24. I'm single and not looking for anything until I have enough passive income from real estate rentals to leave my job. No pets, literally just me. I'm a contractor. Work is heavy right now, but I've been without work for 8 months before and it's scary. That's the only reason I'm considering living in an RV. Even if I rent though, I'll always have at least 6 mos of savings in my bank account. So I'm undecided. With that being said, I'm a pretty materialistic guy. I like things. I usually rent 3 bedroom houses just for myself. I use one room as a gym, one as an office, then a bedroom. And I love it. What I don't love... is the rent payment. I pay about $1,200/mo in rent and yard maintenance. I make about $1,000 a week. I have about $10,000 in my checking account. My parents have 20 acres about an hour from everyone (friends, family, and work) that I can use. Nice land. I also have no debts other than my car payment. It's a $12,000 car. I owe $10,000. So without boring you with details... should I pay cash for a cheaper camper trailer, fix it up, and live in that? Approx $15,000 total. And enjoy the perks of seclusion (big plus, I'm introverted), and no rent payment while making pretty decent money... OR Continue renting pricey houses and just be more traditional about things.

I'm at a different place in my life, but here's my reaction: It seems silly that you owe $10K on a $12K vehicle... seriously? I'd start paying that off pretty aggressively and start building a fund for the next vehicle. It seems luxurious to have a three bedroom apartment for one person, isn't there something between a 3 BR and an RV? I would not want to live an hour away from my life. Commuting takes a big toll on you and your modest vehicle, is it worth it? Is there a closer place you could park and RV or a tiny house? Seems like you are contemplating two extremes in living situations, and maybe middle ground would be a better option.

If you buy a house and get roommates at least you'll at least have rents coming in. It's pretty basic, spend your money on things that will produce cash flow. I'd rather rent a nice 3 bedroom house in town and get two roommates than buy an RV to put on my parents lawn an hour outside of town. Also, just because you live in a college town doesn't mean all apartments are going to be noisy.

Why not buy some property then? My daughter for instance, can actually (and has) buy a property and pay less in payments than the same property would be for rent, and that's in the SF Bay Area. You could also buy, then rent out rooms. I completely understand not wanting roommates, though. That option was never something I'd consider for myself. Or, maybe, buy a lot (land only property), and put your RV on it. Depending on the city/county, you can do this at least temporarily, while supposedly planning on building a home. I see nothing wrong, though, with buying an RV if it gives you freedom. Plus, you can re-sell it if/when you want to. So, I see nothing wrong with doing that. You'll find here, though, people who will want to help you build a real estate investment. Hence, the advice to buy property to put your RV on, or buy a house out of town that you can live in and maybe sell later for a profit, etc.

Wayne, Why not manage a property in the mean time? find a complex that is looking for a property manager, sometimes housing is included with their position, you will get hands on experience with managing properties and have a place to live. being a contractor will be a big plus for that position.

Why do you need to ask us? At this point you have no one to answer to but yourself. Do what makes YOU happy.

Live in the RV close to work during the week and drive it up to the parents on the weekends. If you are single, I don't really see a problem with the strategy. Walmart will let you park RVs in their parking lot. I think your car is on the expensive side. I have said this many times: if I could go back in time, I would have lived in my van, bought a property, lived in it while I rehabbed it, moved back into the van, held the property, bought another property, repeat as necessary until I had so many cash-producing properties that my tenants could pay for my primary. A variation on this is buying a 2/3 plex and living in one side, fixing up everything, once it's done rent out your place and buy another one, repeat.

@Wayne Yates yeah probably so! that doesn't even start to compare to life in Alaska! I have met and worked with a Pinkerton a descendant of the famous pinkerton agency, and at the same place I worked with a Hatfield a descendant of the famous Hatfield/McCoy fued, She told me the story long before it came out on the history channel. been on tv in a show by Andrew Zimmerman the guy who eats weird food. we made moose head cheese for him, I work at the airport where the show flying wild Alaska was centered, cut up a moose on camera for them. I know many "Bush pilots," I have taken 260 mile boat trips, 300 mile snow machine trips, camped on the Yukon River at -30 below zero, goose hunted from a SNOWMOBILE in may with no snow on the ground, cought 50LB king salmon in a net, excess of 50 whitefish in a net at one time and caught 6lb trout on rod and reel. I have put $800 dollars worth of fuel in a boat and burned it in one day and on and on and on! oh yeah I even worked for a place that did ice road trucking with 18 wheel trucks on the Kuskoquim river. the same company ran a barge in the summer. I worked on that too. And all of this after the age of 52. Never ever think life is over at 50 that's when mine began! Ive been to Thailand 3 or 4 times, Cambodia and seen the comaian temples, bought and given away several pictures painted by Elephants, got in a water fight in a Thai bar during the Thai water fest a few years back. it was the Thai's (about 200 of them) against the Alaskans (both of us) Nobody got hurt, its completely acceptable and part of their "water fest" celebration. My fear now is that I will be bored to tears when I return to the lower 48. Im 63 this October and torn between staying and retiring to the lower 48. life is easier there. water here is $150 dollars a month (for 1,200 gals), gas is $4.99 a gallon down from $6.00, milk $8.99 a gal. There aren't enough rentals in the USA to support a retirement here much less buy boat gas! LOL RR

I live on a sailboat half the year and my mother lives in an RV resort. Living on a sailboat or in a camper can have some issues you won't find in a traditional house-- your "plumbing" situation is not going to be as seamless as what you are use to in a house or apartment... you'll have to deal with holding tanks and sewage treatment and disposal, macerators break all the damn time, 6 gallon hot water heaters, filling water tanks, space is small inside (and often outside), insulation is usually non existent. In addition, nicer campgrounds can be expensive and you won't always get the money you put into an RV or camper out of it when you go to sell. Unless your parents have facilities for dumping black and grey waste, and convenient, more or less permanent power hookups (at least 50 amps) you will likely end up at a campground paying some rent. So you'll want to check into local rates and figure not just the cost of the camper but the cost of campground rent. Having said all that, there are some advantages to living in campgrounds and marinas: it's easier to make friends in a transient community, some have resort quality amenities, if you don't like your neighbors or if you run out of work, you can pick up and move your house, and it can be a comfortable, less expensive way to travel... I love the lifestyle and look forward to moving to our floating home each year. You might want to rent an RV and spend a month living in it before you make a purchase decision just to see if the lifestyle is for you.

It sounds smart money-wise. Especially, when you look at the fact that you can sell the RV later.

Serious question - Rent, or live in an RV?

Devon Tronrud

Winnipeg, Manitoba · Member since 2017 · 12 posts · 2 votes

9y

Buy a duplex and live in the smaller suite while the other suite pays their rent right into your equity. Pay the car off fast since you have no rent.

Serious question - Rent, or live in an RV?

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