Originally Posted by tark_o
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...
dude what are you talking about? owning a rental property is a business... there is no business in the world that operates for very long without making profit. here is how it works...
say you rent both units at 500 each....
Revenue: 1000
Expenses:
Mortgage: 400
Utilities: say 300
1000 - (400+300) = 300 profits.
as long as your revenue is = or > your expenses, its a profitable venture.