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Reply to "Is owning a rental property a good investment?"
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[quote=Anonymous]We are thinking of buying a small single family house to rent out. The idea is to rent it out for many years and use the rent to pay most of the mortgage costs. We could buy for about $250k in a nice area, put $50k down, and rent it out for about $1200 plus utilities. We have a neighborhood picked out that is close to the freeway and has a lot of cute small one story houses. Its also near where we currently live. It's a very residential area with low crime. Hopefully at some point the rental could be paid off and we could give it to our disabled son so he always has a place to live or we could always sell it too. Does this sound like a crazy idea? We are not in DMV, but in New England so prices here are cheaper. Would you do something like this? [/quote]
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