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Right now, in much of upstate NY you can buy a house for as little as $35K. The mininum rent is about $600 per month as determined by welfare. Thats a 20 percent per year return on investment. Adjusted for property tax of about $1500 this still ammounts to a 16 percent annual return. In CA you can get about $1700 per month for a $750K investment or a 2.7 percent return without looking at taxes. Analyze this.
I own two houses in upstate NY and the return is great.
I am planning on buying 10 more.
If your looking for a lower rent, forget it.
Last edited by snowman; 05-19-2006 at 09:08 PM..
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