I CHARGE DOUBLE FOR RENT from what I pay 💰

@rental.cashflow

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rental property

Why it worked

The video taps into the common interest in real estate investing and "house hacking" by presenting a clear financial breakdown and a relatable scenario. The creator's direct question at the end encourages engagement and discussion in the comments.

Summary

The creator explains their strategy of charging double the rent compared to their mortgage payment for a property they own and renovated. They detail the mortgage costs, rental income, and the potential sale value of the house, highlighting the savings a renter would experience compared to buying the property themselves.

Structure

1Introduction of charging double rent
2Explanation of mortgage costs vs. rental income
3Details of property purchase and renovation
4Calculation of potential sale price and monthly payment for a buyer
5Comparison of renter's cost vs. buyer's cost
6Discussion of landlord responsibilities and call for audience opinion

Call to action

Let me know your thoughts in the comments.

Original caption

Charging double for rent from what I'm paying... But, if I sold the house today, the mortgage payment would be more than what I charge for rent. Also, I'm responsible for maintenance and upkeep on the house. Do you feel like this is fair? #rentalproperty #landlordspecial #rentalincome #cashflow

More from @rental.cashflow

On-screen text

I CHARGE DOUBLE FOR RENT from what I pay 💰

Transcript

I charge double for rent from what I pay. But, if I sold the house today, the mortgage payment would be more than what I charge for rent. Also, I'm responsible for maintenance and upkeep on the house. Do you feel like this is fair? So this is one of my rentals. My mortgage payment is $810 a month, which includes principal, interest, taxes and insurance. But I currently charge $1,750 a month for rent. So I'm making $940 a month profit. Now I bought this house eight years ago for $130,000. My wife and I completely renovated it by ourselves. After renovations and appreciation over time, it is now worth about $280,000. Now let's just say I decided to stop hoarding this house and sell it to a family in need for $280,000 at a 10% down payment if you move in on a 30-year fixed rate loan on a 6.5% interest rate. After all insurance, taxes, fees, everything else, you're at $2,219 per month. So you're saving $460 a month by just renting it from me instead. Plus, you're not the one responsible for anything. Washer or dryer goes out, that's on me. Refrigerator, stove, dishwasher, air conditioner, furnace, roof, windows, everything else I pay for. Refrigerator, stove, dishwasher, air conditioner, furnace, roof, windows, everything else I pay for. What do you guys think? Am I justified by charging what I do for rent, or should I be charging way less? Let me know your thoughts in the comments.