Hey guys, I'm trying to create some passive income and I'm considering renting a "mulu gibi" house and renting it out again. Does anyone have experience in this? I want to know : 1. Is it a viable option? 2. Are there any hidden expenses besides the rent? 3. What kinds of houses are best for this, what should I look in a house before renting? Thanks in advance
Jan 25, 2021Yes it is viable and even applicable way of side money, But the place should be around a living area where people need renting for prolonged time. The Hidden expenses can be like painting, and reconstruction expenses to fix doors and windows before renting. You should look its nearness to the Main road, Its nearness to factories (Disrupting sounds and toxic smells might be unfavorable place to live). May your thoughts become a reality! Keep up the hustle😊
Jan 25, 2021Thanks for the elaborate response, really helpful.
Jan 28, 2021U should have monthly income enough to pay rent + expenses. I suggest u rent a furnitushed house. And I also suggest it is a n apartment. Places like tulidumtu have lower rent. Google "appartmenf to rent in Addis Ababa " and u can see the price with the place. Good luck
Jan 25, 2021Is it legal to rent put for 3rd person? I mean i heard some rumors in some condominium compound
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Mar 09, 2022