IMO. One of the major drivers towards home ownership is rental price. For example, why rent if you can buy for the same price...
Recently in the NOVA market costs of owning have greatly increased in relation to cost to rent.
NOVA market "done got whacked with an axe", as they say...
Is there some sense in the board as to where rents will go over the next few years. For some of the more eperienced board members, what happens to rents when inflation increases? Are they directly linked or is the elasticity?
The purpose of my comments is this. i currently own 3 rental properties. I cash flow close to even (When rented) on all 3. They are all brand new construction homes. i bought recently following the bloodshed of 2006/2007. My time line is a few years out. Does the board expect rents to rise? If they do ill be looking good, if not... i wont. I can afford to carry the houses now as I am still full time employee. I am planning to see cash flow 3-5 years out. My costs are fixed. I have all 30 yr fixed mortgages.
If I am even now, should I expect positive cash flow in 3-5 years?
Recently in the NOVA market costs of owning have greatly increased in relation to cost to rent.
NOVA market "done got whacked with an axe", as they say...
Is there some sense in the board as to where rents will go over the next few years. For some of the more eperienced board members, what happens to rents when inflation increases? Are they directly linked or is the elasticity?
The purpose of my comments is this. i currently own 3 rental properties. I cash flow close to even (When rented) on all 3. They are all brand new construction homes. i bought recently following the bloodshed of 2006/2007. My time line is a few years out. Does the board expect rents to rise? If they do ill be looking good, if not... i wont. I can afford to carry the houses now as I am still full time employee. I am planning to see cash flow 3-5 years out. My costs are fixed. I have all 30 yr fixed mortgages.
If I am even now, should I expect positive cash flow in 3-5 years?