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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hmm
If you're buying property to hang onto & build equity, wouldn't it make sense to buy a 2-3 unit? That way you're not as likely to take a monthly hit?
Once I'm done the major stuff on our house, we're probably going to buy a 2nd house to fix & flip. That or a 2-3 unit to hold onto.