Quote:
Originally Posted by Joe Ricard
Yea the rent would be around 1100 a month. The note with taxes and insurance 695.00 So yea I shouldn't be losing any money.
It's a 1800 sq ft. 3 bed room 2 full bath 2 car attached garage. 1/2 acre land.
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That's 400.00 a month profit. 4800.00 dollars a year goes in the rental account. You get tenants for 2 years at a time lets say. I doubt they could do 10,000 dollars worth of damage every 2 years.
You are going to be making money AS the value of the house goes up.
Real estate doubles every 10 or 15 years supposedly, so in ten years you have made 48,000 dollars off the extra rent and now the house is worth 240,000.
20 years you got 100,000 in the rental account and a house worth 480,000.
I don't see the downside.
Plus, if after 5 years you find out being a landlord isn't for you, then sell it.
You can always sell it, you can't always buy it.