Quote:
Originally posted by G Sharp
Definitely have to factor in additional costs:
water
garbage removal
maintenance
property taxes
mortage insurance
gardening
I looked at that avenue as well, buying an apartment complex has advantages [self liquidating, lots of tax relief] but has its downside as well [see fees above, plus active management].
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So far I've only bought one other place & it's a condo so things like garbage removal, gardening & maintenance are all taken care of by the condo board. The rent isn't too high so I don't make extra income from it, but the renters are helping me to build equity.
If I can eventually have 10 places, even if I have to shell out a couple hundred dollars for each of them every month, I'll still end up owning 10 properties in the long run with very little investment, plus the one I live in.
I could probably earn more money if I bought houses, since their value tends to inflate more. But I think you're right...the hassle may not be worth it.