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SVTPerformance's Chain of Restaurants
Road Side Pub
Property investors/renters ! step on in
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<blockquote data-quote="blownstang4.6" data-source="post: 16181349" data-attributes="member: 129006"><p>You'll definitely need a management company to do the repairs, cleaning, upkeep, and maybe even listing your property. That is going to eat away at your profits. It would probably be more of a hassle than it's worth if you are only buying 1 unit. If you are buying a larger multi unit property that would completely pay for itself and generate some income for you then it would be worth it.</p><p></p><p>I disagree with what Klaus said that investment properties are poor investments. I know many individuals who became millionaires prior to retirement by investing in multiple rental properties. They put in the time to upkeep the properties and kept them rented for 20+ years. An investment property is a guaranteed long term positive return if you put in the time.</p><p></p><p>I have a multi unit investment property 3 miles from my house. I manage it myself. It completely pays for itself and for half the mortgage on my single family house. So I've got $800k worth of house between the two and it's costing me $800 a month out of my own pocket plus any repairs.</p></blockquote><p></p>
[QUOTE="blownstang4.6, post: 16181349, member: 129006"] You'll definitely need a management company to do the repairs, cleaning, upkeep, and maybe even listing your property. That is going to eat away at your profits. It would probably be more of a hassle than it's worth if you are only buying 1 unit. If you are buying a larger multi unit property that would completely pay for itself and generate some income for you then it would be worth it. I disagree with what Klaus said that investment properties are poor investments. I know many individuals who became millionaires prior to retirement by investing in multiple rental properties. They put in the time to upkeep the properties and kept them rented for 20+ years. An investment property is a guaranteed long term positive return if you put in the time. I have a multi unit investment property 3 miles from my house. I manage it myself. It completely pays for itself and for half the mortgage on my single family house. So I've got $800k worth of house between the two and it's costing me $800 a month out of my own pocket plus any repairs. [/QUOTE]
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