Re: Good Idea??
10-23-2012 09:18 AM
I think investment properties are usually a great idea, my first home was a duplex, which I intended to use as a starter home, and then turn it into an investment property. I lived there four years, and when I decided to move up in house, I moved out and found a little place to rent for 6 months, and then rented out both sides of the duplex while I lived in a rental... In that way, I could claim the rental income from both sides, which totally offset the mortgage payment.
Thats awesome, I wish I could move into it honestly, but we are in an apt. lease. ugh...
Thats my goal, houses are cheap, the economy is crap, as long as I can afford it (incase of renter shortage) I wanted to do it. Thanks for the input regarding a larger down payment for rental properties. I wasnt aware of that. My goal is to make enough extra per month to just help with money and its kind of a, why not? situation. I think investing in a down economy is going to benefit me 10-20 years from now. I dont make a lot of money, but I dont have debt either, so I want to make more if I can without over extending myself.