yeah its kinda nice to be able to get into real estate so cheaply around here but like i say, there is a shortage of high paying jobs so the cost of living and the average pay around here are probably not that different than in a high paying area.

but it just so happens that my gf and i make enough money (while it is hardly wonderful) to buy property. and since we both have good credit, we shouldnt have any trouble. but we still wanna go throught it a few times and give it some thought before we jump in. we have also started looking into other properties but right now, this is my favorite.

 

you're just really argumentative.

and for the record my house purchased 3years ago. Paid off 75K remaining 180K which will be paid off in about 5-6 years. It can be done.

 

I know it can be done that is not what i am saying! i am saying it is really rare that you can do it in 9 years with the rent revenue only! hey if it does work then great really cause i really will go and check it out... specially since interest rates in US are so low...

 

for the 3rd time where is this 9 year number coming from?

I believe everyone else is confused about this 9 year number as well.

 

He probably thought about the 9 year thing when he was drunk and taking a leak in the alley

 

hahahahahaahahahahahh

 

Oh my god what do you guys not understand?

64900$ taken morgage at 5% annually for 9 years would make paiements of 745$. in other word if you WOULD pay 745$ (the revenu is 800$/month) you COULD pay that duplex in 9 years...i dont understand why you guys dont understand this!!!

 

but what you dont understand is that i have ZERO interest in paying it off in 9 years. i never said i wanted to. i never said id try to. i dont want to. i want to ride the mortgage out to keep the initial expenses low. once my gf and i move out we would rent the 2 units and apply the income to the mortgage one payment at a time. nothing ever came from me that said i want to pay it off in a hurry or that i was hoping to pay it off in 9 years. 64,900 across 30 years. thats all i ever mentioned.