How to live off on your real estate investment

[Alexandoy]

Next week I will be receiving a big fund that will be my lifetime sustenance. Based on my estimate I could live comfortably with that money for more than 10 years. However, I know that keeping the big money in the bank will only be eaten by inflation in the future. Maybe after 5 years my monthly budget based on the cost today will not be sufficient anymore that my 10 years of sustenance may turn out to be just 9 or perhaps 8. Being a retired person the future is scary because I have no source of income so I am now turning to investment.

With the blue chip stocks that I have the annual dividend is not really substantial at all and the only reward that I can get is when the price of the stocks in the market would shoot up. But I cannot bet on that. What I am thinking now is to buy a townhouse unit that I can rent out. Or perhaps I can live in that townhouse unit and offer our home for rental. Our home is a 2-story house with 4 rooms, a spacious backyard, 2-car garage and 2 toilet and bath facilities. It can fetch a good price for rental here maybe up to $400 or even $500 per month. We shall see in the coming months what decision I will make regarding the real estate investment that I am planning.

 

[funmi]

Well, that is a brilliant idea. As long as the house is still yours, it very good. If you rent your first house out to get more money is not a bad decision. What is the essence of living comfortably with out having enough funds to pay your bills? I know some people here in my area where am living that rent their building out and they are living in another house. The house they rented out serve as their source of income, like a job where they receive money every year to cater for their other needs. It is reaaly a good idea.

 

[Setho]

I agree with you about this thing that you are thinking but real estate investment is something that you should not really be in a hurry to make because it is going to involve a lot of money . You should first of all surveyed the area to see just how much houses are around here and the kind of demand that you will be able to pull up when you finally put up your own property. If there is a lot of demand for it around there then there is a tendency that you are going to be making more money