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Reply to "Stop 401k and Purchase a Rental Property?"
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[quote=Anonymous][quote=Anonymous]You are not going to make much rental income on a place you purchased recently and started renting. Yes, you will be paying down principal, but it won’t help your cash flow much until rents increase well above the price you paid for the house. Have you looked at what your expenses will be vs the likely rent you would get? You’ll see what I’m mean. It’s a long game, not an immediate cash generator.[/quote] Long-time landlord here. That's a good point. One of my rental properties is 15 years old at this point. When I started, I made just enough cashflow-wise to cover my costs and a little bit of maintenance. Now, since rents have gone up, but my mortgage is fixed, I actually make some money every month. (Yes, property taxes and condo fees go up, but not as much as rents).[/quote]
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