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Originally Posted by beemk
i have one rental house right now, i paid cash for it and after all the expenses i make about $400 a month. its not that much money, but for the work it involves its worth it. plus you gotta figure how much the value of the house goes up. i could have turned around and sold the house for $20k profit, but i want to make money in the long run.
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I'd have sold and reinvested.
The housing market is about to take a nose dive. There are already signs. If your profit margin is only 400 a month on that particular property, youd have been better off to sell and use the money somewhere else.
Getting more stuff to rent would be FINE, but do it in a different locale. Say, a college town.
I have one piece we bought in 97. My end is about 500 a month. We are renting it for 1300.
COLLEGE TOWN.
edit: The only reason it's 500 is because I was a fucking idiot and took out a bunch of equity once. Which I blew. I wont make that mistake on our other houses.`