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It's pretty amazing to me that someone would be willing to buy a property and rent it at such a loss. Wayne's situation works because someone is willing to subsidize him to the tune of about half of what it costs to live where he's living. Clearly the rent is too low or the houses are priced way too high. I like owning my home, not just for the investment but also for the fact that I need to live somewhere and the equity I have in my house will always roll forward into my new living situation. Rents in Denver are pretty much right at what a mortgage payment on the property woud be. Renting is not a long term solution in this environment.
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Jerry
78 SC hotrod
02 Mini Cooper S
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