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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]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] Real estate is a cash flow business and has always been so, except for the last decade. It's math, that's all - return on investment. You won't find property in the DC area that has "cash flow." It's a lousy investment - stay away. Long distance landlording is also a big risk, but if you've got family in Florida that can truly be counted on to manage your property, you may do well there indeed.[/quote]
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