Quote:
Originally Posted by slapass
Buy a 4-plex if you can but be aware that real estate is not a quick deal. If you are moving somewhere else just wait and buy something there. No need to rush it and why manage something long distance???
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Nope. It's a long term investment. More importantly, it's a TANGIBLE asset for the bank. So less grief when I want to buy things. (Internet guru always gets you a weird face) Even though you can show you cash on paper and in tax returns. They seem to like that you have assets.
However, if you have rentals, you can count 75% of the income for future properties, and investments toward you income. Assuming you have them signed leases. Which is a nice bonus when you are trying to boost your bottom line.
Furthermore, rentals allow for more write offs. Especially on your fixer upper.
