Quote:
Originally Posted by BK911
I'd invest in real estate. I buy a fixer upper every other year or so. Live in it while I fix it up, then rent it out and buy another one. I usually take a hundred bucks hit per month per house initially, but in a couple of years I break even, then start to make money. But if you consider equity, I probably make about ~$1k per month per house. Sometimes more, sometimes less. My goal is to have enough rental income by the time I am 50 to retire. Sell a house every couple of years after that for spend money.
My point being if you have an extra $1k a month to spend, buy a house and rent it out. It may cost you a couple of hundred out of pocket per month, but you could triple that in equity per month.
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This is exactly what my uncle did, but with government subsidized housing, and he is reaping it in. He still works (and goes in at 6am) because, well, that's just how he his, but he could probably quit if he wanted to. Of course, he is a part owner of the place he works and that's a good bit different than working for someone else.