Should You Buy a Second House to Rent Out?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 29 September 2021

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You probably have some friends or relatives who've purchased a second house to use as a rental property - so should you give it a shot? We'll walk you through that question and more in today's Q&A episode! Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So guys, you know, one of our absolute favorite things to do after we do a live shows.
0:05.1	We love to answer your questions.
0:06.3	We want to load you guys up with some Q&As.
0:09.1	The chat, oh, wow, Daniel, we got a lot.
0:11.6	The chat has been coming in fantastic.
0:15.0	We just had a great time at FinCon, which was so, so, so cool.
0:19.4	Because of that, Reeves, are you okay?
0:21.1	Can I give away Tumblr today?
0:22.6	Awesome.
0:23.6	She says yes.
0:24.6	So we're going to give away some Tumblr today if you guys would like.
0:27.9	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:35.0	investing, taxes.
0:36.8	You've got financial questions.
0:38.4	He's got financial answers.
0:40.4	It's Brian Preston, the money guy.
0:43.2	All right, so let's dive right in.
0:47.2	All right, Brian, this first question is from Samson.
0:50.8	Love that.
0:51.8	I see a lot of my friends and relatives buying second houses and using it as an Airbnb,
0:58.4	which covers the entire mortgage and then some.
1:01.6	Is there any downside to doing this and how should I get started?
	...

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