Originally Posted by ISP James
what business isnt like that? your revenues should always exceed your expenses, shouldnt they?
my gf's current landlord owns 14 local properties and does nothing else, just buys and rents...
dude i dont know if its normal where your from but i know(as a fact) that in the rest of the world you cant buy a duplex get it paid off totally without paying 1$ in about 9 years!!! If you do 64900 at 5% with paiements of 745/month pais it in 9 years... then you could sell it back for 64000? no its not like that!!
Usually when buying realestate you are actually gaining on equity. You pay out of your pockets renting it for often less then the actual cost of purchasing(or else no one in there right mind would rent) then when selling it back, or to gain equity and re-morgage to buy an other one...