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Money and Finances
Reply to "If you have one, what is your 5 year plan?"
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[quote=Anonymous][quote=Anonymous]Rock on 1:15. We'll pay off our rental TH (two units) next month. That's about $3,200 in free cash flow every month after taxes, insurance and property management fee. And it'll only go up. (It's a rowhouse a few blocks behind the Capitol. We price it a little below market, and people line up to rent it.) [/quote] I do badly want to buy property as an investment like this. Problem is, even the crappiest places are $500k+. Hard to see how you make money on the rental (or even break even) unless you can put $200 or $300 down. When did you buy? (I'm the guy who wants to buy a rental from above) I'm also looking at buying in FL. We have some family down there that could do prop mgmt for us - a 3bd home night run $150k and rent for $1,000 a mo. It's a smaller gamble with a smaller return but more achievable for us right now. [/quote]
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