Terrified Newbie in Nashville, TN
I've really learned a lot reading these posts. Thanks to all for taking the time to share your knowledge.
I have a 450k house that I've lived in for a few years. I just bought another house (300k) and am going to rent my current home and downsize. My question here....I will have minimal cashflow from this rental property (mortgage/hoa/ins/etc is $2400 and I've rented for $2800). I expect the $400 mo profit to be eaten up by maintenance. What are the advantages to holding a high-end rental over three 150k houses? I'd like to grow a portfolio and I'm not sure if starting with a 450k house is the right place to start. I already own it...so seems logical.
Thanks so much! I look forward to contributing soon...but for now, just listening and learning. :)
Mamie