Learn the Secret to Making Money with Rental Property FAST!
Let’s take a hard look at the ways to make money on a Harmony Creek Tiny Home on Wheels
First, let’s take a look at the advantages vs building a traditional cabin or small rental property.
- There are no county inspections. These units do NOT fall under the guideline of your county building inspector any more than a travel trailer or your personal car would.
- They DO fall under the guidelines in most states that allow you to add an additional living unit to an existing property. If your property is zone agricultural or conservation, you can add a second with the idea you will need living quarters for farm help.
- The 1200 sq ft. requirement does not apply. These units have the appeal of a cozy, unique experience which brings you higher rent than a traditional small rental unit.
- If you move, take your rental unit with you. Or, sell it. A traditional building has to be left behind... and so is your income stream.
- It can be willed, moved, or gifted to another family member to get them started with their second income stream.
- Don't have land? Do you live in an apartment? Rent land from someone else. Or lease a space in an existing RV park. Most RV parks have periods of high occupancy and long periods of low occupancy. Many will lease space to help even out their cash flow.
- Our units, on steel frames will last almost twice the time of a traditional travel trailer and they can be reconditioned as many times as you want.
- If you get whimsical, you can add exterior or interior decorations to produce a “theme” rental which is especially inviting and commands higher rents.
Realistically, depending on your rental fees, your cleaning standards, and your location you can receive an income of $1800 - $4500 a month. We have one client who is consistently getting $4500 a month in rent and is fully booked almost all year.
So let’s be conservative and say you are earning $2,000 a month in rent.
You have financed the unit. You have put $15,000 down and have financed the balance over 60 months. With sales tax and the loan total, your payments would be around $1250.00 (These are approximate numbers and will vary with the individual purchase, but they are based on past loans and industry standards.)
You are making the loan payment AND making $1200+/- a month profit. You wouldn’t do that with a rental property. If you don’t like short-term vacation rentals, rent for around $1800 a month to a month-to-month renter who will stay for several months. There are several sites that list this type of rental.
In 5 short years, about as long as it takes to pay off a car loan, you will own the unit free and clear, and then IT’S ALL PROFIT. Your car, by the way, will not only not be paying you income, it will have depreciated considerably.
This is the best way to make an income from rental property. And if you ever decide to sell your property:
- You can include it in the sale which produces more value for your property.
- You can sell the unit and we will help you find a buyer and get them financing.
- You can take the unit with you to your next home.