Are you making your landlord rich? The cost of Renting

Are you renting right now? If so you might be making your landlord rich. Don’t get me wrong I love good tenants. Tenants that pay on time and stay for a long time, but I am saying this from a landlord’s perspective. I own investment properties and my intention is for the tenants to help me built equity, as you can see in the above video.Ask yourself why are you making your landlord rich? Is it out of convenience? Principle? Or do you need to work on your credit? Well, the first and last one can easily be overcome. Earlier today I spoke with one of my friends who wants to purchase a home but her husband isn’t convinced, so she asked me to meet her and her husband to talk some sense into him. My friends husband happens to be a veteran and has a VA loan eligibility. Well, from a Realtors perspective this is a no brainer, he should purchase a home as he can without any downpayment. They own a home in a different state which is currently rented out and they are even making a profit on that home. With the husband being VA they can purchase another property and own another VA loan totaling both loans $625 k. The VA limit in Virginia is currently $625 k.

So long story short I will be having drinks with my friend and her husband next week and explain to him why he shouldn’t be wasting money on rent. Especially since they are planning on staying in this area for longer. My friend and her husband pay $2,2000.- per months in rent. They have been renting for two years. That is 24 x 2200 which equals a lot of money paid towards the landlords mortgage and the landlords equity. The tenants don’t have any tax advantages by renting.

Yes, if you are renting you don’t have any headaches about appliances breaking down, a leaking roof or a broken down AC. The landlord will fix all this. Let me tell you a secret, yes as a landlord I pay for items that are breaking, but I happen to have a home warranty, which covers most items in my investment properties.


If you are tired of renting and tired of making your landlord rich contact me today. (I just hope my tenants don’t see this blog post, just kidding)