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Own three houses, getting 2 more in the next few months. I always buy fixer uper 2-3 bedroom houses. Rent the rooms out to college students, been working very well. Generally get alot more rent doing room rentals over renting the entire house to one family. Averaging 450.00 a month per room, mortgage, tax, and insurance comes in well under 600.00 a month on any property I own. Plus with room rentals I rarely (ok never) have had a house that was costing me money.
We do all the refurbishing ourselves to improve the houses, unless its a "contractor only" job. Due to our buying fixer uppers generally we get a hell of a nice return in equity value after the new appraisal.
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