Originally Posted by ISP James
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.
no cause your profit is actually the morgage! margage is not an expense, its equity...dont forget that your building equity that is your actual profit!