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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,886
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Quote:
Originally posted by snowman
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.
If your looking for a lower rent, forget it.
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Ahhh, I see. The path to major weath is to become a slumlord?
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
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