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Reply to "If you have rental property, how much do you make every month?"
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[quote=Anonymous][quote=Anonymous]I'm negative 1k/mo total on my three properties Glover park/Logan/clarendon. I have high mortgages bc I bought the properties with almost zero down. I view it as forced savings and I will never sell bc I want to pass the paid off properties to my kid. They are great condos in great locations and in 20 years he can net a comfortable amount and always have the income so he doesn't have to get a "job" just to pay the bills and has more financial freedom to pursue what he is passionate about. [/quote] Please think strongly about this. It's character building to get a job and make your own way in the world. It's possible to still find yourself and be able to take care of yourself. BTDT -- sometimes financial freedom can have its own chains. Until I straightened myself out, my trust caused me to basically be a wastrel and layabout who got messed up in drugs (just weed but oh man so. much. weed.) and what's worse was my attitude -- a sense of entitlement and no work ethic. My parents taught me very well and were very attentive, but money comes with its own problems. It took me years to figure my life our because I had the "freedom" to be a total screw up. [/quote]
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