OfflineSo I found some people that want to invest in Real-Estate with me. I've decided to actually get out and do it after reading book after book and watching other people succeed. It's my turn to do it.
My first investment is looking like it will be a 6 unit property which consists of 3 duplexes. If the deal goes through like I'm hoping, I should be able to pay off my car and my wife's car and still make money off the rental income after paying the mortgage on the property. Even better is if I have trouble finding someone to rent the units, i will be able to afford the payment after paying off my car (my car payment is higher than the mortgage payment). I'll have to see how it works out for us.
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Sounds like a good plan and you even have a back up plan. Living for free might also be an option.
One step closer!!!
Scott
Join my REI group SouthCentralTexas ALL active motivated gogetters welcome Your location is not important.
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You can lead a horse to water but you can't force him to accept money.
-One Step Closer
Sounds like you may have picked a great deal. Let us know how you make out.
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
I thought about living there for free, but I think I can make more money by renting all the units out. Plus I need more space. I'll keep you updated on it.