ok i quit too... I just want you to realise that if true then no one would ever rent at 400 when they could buy for free... i think your not getting me, it's ok!

 

Wow! That's a really good deal, man!

Good luck!

 

exactly. He is just thinking of places that cost a heck of a lot more than $64,000

 

yeah we are speaking two different languages here or something....

some people dont have the credit to buy a home with.

some people dont want the hassle.

some people are simply to stupid to realize you can buy as cheaply and sometimes cheaper than you can rent and you are actually investing your money in something you can get a future return on.

bottom line is, i wont be renting any space out any time in the near future. if we buy this place its going to be for us to live in, renting it out wont be an option for a few more years.

but by renting both units at 500 each

 

im glad that somebody other than myself sees that this will work.

 

some people d not want the hassle of owning a place. Also, many people cannot get morgages due to credit problems. You may see it as cut and dry but not everyone is in the same boat.

For those who can afford it, it is stupid not to do it. If that was in my area I would buy it. I wouldn't even have to rent it out. $400 a month plus utilities would be like pocket change considering that most one bedrooms here cost over 1,000 a month to rent, plus utilities

 

do keep in mind that incomes around here are commensurate with the cost of living... you cant find a lotta jobs here that pull 6 figures :happysad:

 

As i said i quit... We own propreties in Montreal, Sherbooke (third porest city in Quebec) and Khinshasa(RDC).I am not talking about expensive propreties here!

 

I wonder if it's haunted or something. That seems way too cheap.

 

I agree with you James....I bought a townhome here in pitt for 155k. It's a three bedroom home that was just gutted inside and redone completely. If I were to rent the place out, I would be renting it for about 1800 a month to keep in line with average rent in this neighborhood. My mortgage payment is 1100 a month...MUCH CHEAPER than what i'd be paying if I rented it from someone, and my roommates and I split that three ways. It's in my name. Like you said, it was a huge hassle to buy the house, lots of time spent, and tons of paperwork, but it's worth it in the end for me, because I expect my house's value to increase by at least 50k by the time I sell it in about four or five years (it's in the hottest neighborhood in pitt - the property values have doubled in the past three years). It would have been much easier to just keep renting, but it's not profitable. I was sick of throwing all my money away every month....that's why I bought the place.

James, definitely jump on that. Even if, for some odd reason, the property value goes down...you're still retaining money that would have been wasted on rent. I would love to just keep buying properties and renting them.