What if I mortgaged a house and then rented it out?

Is this a good idea? I wouldn't mind living somewhere cheap. And I'm thinking that If I took out a loan and then had some tenants paying it off, I would in the end have a house paid off. Is there something I should be thinking about, or any reason why this might not be a good idea? Any insight would be appreciated.

What if I mortgaged a house and then rented it out?

That is a strategy of many investors. However, if you are doing this, consider the risks, the rewards and plan exit strategies. If planned properly, it could be a nice cashflow method.

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What if I mortgaged a house and then rented it out?

Make sure your contract with the mortgage company allows you to rent , then charge $50.00 or more per month to cover taxes, insurance etc. no to forget damages caused by the tenants or the stuff left behind by negligent pet owners , I had a home I rented for ten years to someone I thought was taking care of the place , I had to sink $6500.00 back in to repair all that was damaged ((he never reported water leaks)) luckily property values went through the roof in those ten years, I got the house for $30,000,and got to sell it for $140,000 in just ten years , however be careful the housing boom seems to be fading away

What if I mortgaged a house and then rented it out?

Great idea if you have another investment vehicle picked out for the cash.

What if I mortgaged a house and then rented it out?

That would be fine as long as the provisions of your mortgage note allow you to have the property rented. Also, you would have to make a lot of considerations as to who would rent your property.

Of course, you would want somebody credit worthy, somebody who can afford the rent to make sure that you won't go delinquent on your mortgage.

Aside from that, you would want someone who would take care of the property. If a property is not take cared of, the value would depreciate and it would be a loss for you in case you decide to sell the property in the future because the buyers would definitely not pay a price that is even close to how much you bought it initially. Or if the renters move out, you might have a hard time looking for other renters because they would rather go for a better house.

I suggest you have someone you know rent your property.