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Reply to "Is owning a rental property a good investment?"
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[quote=Anonymous]If $1200 per month will cover your mortgage--sure. But it shouldn't cover "most of your mortgage." It should cover all of it, plus your taxes, with a little buffer for vacancies in order for it to be income generating. If it's an area where you expect rents to rise you could maybe be a little under that for a while, but in most part of New England (perhaps excepting Boston) that isn't a sure thing right now. If the primary purpose is just to be sure you'll have a home that you can eventually give to your son, that might be somewhat different math, though.[/quote]
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