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Real Estate
Reply to "Buying DC condo as investment"
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[quote=Anonymous][quote=Anonymous]I think a duplex in DC is a better investment. Of course if you know you are likely to live there in the future and that your kids can live there it could be smart as a retirement plan (particularly if you have the cash flow to operate at a small loss or low profit margin in the short term). If you are local I would advise against using property management (DIY with a good handyman instead) so that you have more control over tenant selection and because it seriously eats into your profit. I have been a DC landlord for 6 yrs btw. If you pick good tenants (employed, semi decent cleaning ethic), rent at a decent price, and don't make the mistake of sinking too much money into your rental, you can make money.[/quote] "don't make the mistake of sinking too much money into your rental" what do you mean by this? putting too much down? or renovating toomuch?[/quote]
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