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re: Information for my fellow Real Estate Investors
Posted on 8/1/19 at 12:33 pm to GAFF
Posted on 8/1/19 at 12:33 pm to GAFF
quote:
how do you make money with this? At first glance you think, "he has 4 homes renting at $1000 each He's making $4000 a month!" but then you start to add in the mortgage price and insurance, maintenance, fees, etc and you only clear $200 a month per house. Seems like a lot of risk for that small amount each month. I can see where it could be profitable in the future when everything is paid off but what about short time?
Depends on your objective...income vs building wealth. Everytime you acquire a home and then pull out your 75 or 80% , the equity you are leaving in the property is increasing your net worth by that much. So, in the end if done correctly, you end up with a home with no deferred maintenance that can be depreciated, and someone else paying the note. The cash flow is the icing on the cake.
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