Quote:
Originally posted by spunky1
He didn't say it was for a down payment.Hell that would be a great down payment but then you have a mortgage for 20 years.
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If you're smart - you put 30k down on a rental property, you then split the house into a duplex or triplex depending on it's size - you put some of your own muscle into this, and the other 20k doing odds and ends of making the place decent - then you can rent it out for much more than your mortgage. You then make more than the minimum payment, then your mortgage isn't 20 years.
Lather, rinse, repeat.