Reply to Is owning a rental property a good investment?

Forum Index » Money and Finances

Reply to "Is owning a rental property a good investment?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][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.

[b]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.[/b][/quote]

Would you buy property in NoVA that did not cover monthly mortgage (covers only interest and taxes but not principal) if the objective was to buy a place that your kid can use in about 10 years or so?  If this place turns into a Bay area what with all the Tech companies moving away, would that not be a good investment (assuming of course I can cover the principal as well as any deficit arising out of the occasional vacancy)?[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics