2006-06-12 11:57:52 · 6 answers · asked by leglog 2 in Business & Finance ➔ Renting & Real Estate
You gotta think long term...it's an investment.
2006-06-12 12:00:19 · answer #1 · answered by zenkitty27 5 · 0⤊ 0⤋
That's right. When you buy a rental. all you care about is making the payments and hopefully enough to pay for the upkeep and repairs. It's the long term investment that counts. Of all the things in this world, Property is one major thing that can't be manufactured.
2006-06-12 12:05:27 · answer #2 · answered by oldman 7 · 0⤊ 0⤋
The most money is made when the property is sold. Real estate tends to gain value at a rate higher than inflation. Ownership of single unit dwellings (houses) does not normally create much of a positive monthly income.
2006-06-12 12:02:19 · answer #3 · answered by davidmi711 7 · 0⤊ 0⤋
If you want to make money right away you have to buy low or a HUD repo . Then put in some sweat equity and do the repairs yourself . Then even if you have a mortgage you will be able to rent for more than the mortgage amount .
2006-06-12 12:05:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The rent covers your mortgage and expenses. You could be living in one apartment yourself and not pay rent. You get lots of tax breaks and the value increases with time so you can sell at a profit when ready.
2006-06-12 12:06:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
rent-- the write offs and up keep are deducted from your taxable income schedule c. The interest is also tax deductable.
2006-06-12 12:01:45 · answer #6 · answered by golferwhoworks 7 · 0⤊ 0⤋