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re: TOS: Being a landlord
Posted on 6/12/15 at 1:04 pm to retooc
Posted on 6/12/15 at 1:04 pm to retooc
quote:
The avg annual rent collected over the last three years is roughly twice what my pay!ents would be.
Are you looking at 30 yr or 15? I'd suggest 15 if you can swing it, and still make extra payments to the principal as often as I could. You won't really be making much until you aren't paying that note each month. I mean you'll still make some if it's double your note, but the unexpected expenses are what gets ya. I'd look at it more long term income vs now. Definitely $$$$ to be made long term though.
1
Posted on 6/12/15 at 2:04 pm to Spunky
It's def a long term play. The house is in an area that could easily go commercial. Even if it remains residential the numbers seem to work so far. Who knows what my inspection will uncover though.
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