I have a condo apartment in a decent high rise, concierge building. It is safe and probably fit my hoped for ER style the best. I can leave it while I travel, and don't have to worry about the place. The condo fee is quiet expensive, as is the general cost of living in the area.
I have the place rented out while I took a job out of town before ER. The rent collected not only covered the condo fee, but is almost enough to pay for rent for my out of town place. The tenant I rented to says that he wants to continue with the lease for at least the next year or so.
I am an incidental landlord because of circumstances. I had not planned on being one. The present tenant is very good and responsible person. The building actually is very picky as to who you can rent to (the potential tenant has to be interviewed), so tenant from hell probably may not happen. And the place is in a good area that the rental agent is confident that I can easily find tenants after the present one decides on other plans. I would appreciate feedbacks as to whether I should go back to the condo because of how it may fit the ER life I hope to lead the best, or take advantage of the not unattractive situation that made me an incidental landlord. The rent differentials can cover a significant portion of the rent if I move to cities like Las Vegas or Houston.
The downside of moving to LV or Hou is either one is a long and big move, and I do not know people in those towns. And I don't know if I can leave a place there unoccupied for weeks to travel, given property crimes are apparently quite high in those two cities.
But long term, the condo is in a high tax, high cost of living area, and like I said the condo fee is high enough to be a consideration. ( i.e. should I continue to pay the high condo fee or use the money for travel or other splurges?)
I have the place rented out while I took a job out of town before ER. The rent collected not only covered the condo fee, but is almost enough to pay for rent for my out of town place. The tenant I rented to says that he wants to continue with the lease for at least the next year or so.
I am an incidental landlord because of circumstances. I had not planned on being one. The present tenant is very good and responsible person. The building actually is very picky as to who you can rent to (the potential tenant has to be interviewed), so tenant from hell probably may not happen. And the place is in a good area that the rental agent is confident that I can easily find tenants after the present one decides on other plans. I would appreciate feedbacks as to whether I should go back to the condo because of how it may fit the ER life I hope to lead the best, or take advantage of the not unattractive situation that made me an incidental landlord. The rent differentials can cover a significant portion of the rent if I move to cities like Las Vegas or Houston.
The downside of moving to LV or Hou is either one is a long and big move, and I do not know people in those towns. And I don't know if I can leave a place there unoccupied for weeks to travel, given property crimes are apparently quite high in those two cities.
But long term, the condo is in a high tax, high cost of living area, and like I said the condo fee is high enough to be a consideration. ( i.e. should I continue to pay the high condo fee or use the money for travel or other splurges?)
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