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I bought my first house for zero down at $69,900. Closing costs were about $3K. It has been rented every day since 1985. It was a wash for the first 10 years (paid off mortgage) and averaged a net return of about $10K per year for the last 20 years...or about $200K It is worth around $200K now...ao, about $400K return over 30 years on a $3K investment. What is that, around a simple 16.5% annual return and almost an 8000% total return if you don't count interest/earnings I could have earned on the $10K per year for the last 20 years if I invested it in the S&P or another house?
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"The problem with socialism is that you eventually run out of other people's money"
Some are born free. Some have freedom thrust upon them. Others simply surrender
Last edited by fintstone; 12-09-2014 at 09:09 AM..
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