Should I move into an RV and rent out my house.

[Cordel]

My house is currently mortaged. It is worth around 140k and could rent for around 1300-1400 /month.

I can buy a used RV/5th wheel for 7k-9k and live comfortably at an RV/Campground in my home city for 650/ month.


Thoughts?

[sky]

Add up property taxes, maintenance and insurance and subtract from total rent to find out the net income on the rental.

Mortgage interest is another expense to add to the above. The mortgage payment less interest is not an expense.

Other expenses to compare are utilities, commuting cost and income tax impacts from rental income.

Now compare the income from the home to the cost of living in an RV. Is it worth the difference in lifestyle?

[BeyondtheWrap]

What kind of climate do you live in? RVs aren't very good at winter, from what I hear.

Another option may be to park the RV in the backyard and rent out the main house, thus avoiding RV rent.

[SimpleLife]

Rent out a room?

[SimpleLife]

My house is currently mortaged. It is worth around 140k and could rent for around 1300-1400 /month.

I can buy a used RV/5th wheel for 7k-9k and live comfortably at an RV/Campground in my home city for 650/ month.


Thoughts?

Following up to see what the OP ended up doing.

[SimpleLife]

What kind of climate do you live in? RVs aren't very good at winter, from what I hear.

Another option may be to park the RV in the backyard and rent out the main house, thus avoiding RV rent.

I actually like this idea best. You don't have the noise of other RV dwellers in close proximity, and you are at home, on your own property. I have RV parking at two of my properties and love the idea. Might even do this myself someday.