Re: Looking to start. - Landlord Forum thread

Re: Looking to start. by Micah on November 7, 2009 @16:49

LL'ing is for most people, a long term investment. You get other people (tenants) to pay the mortgage, insurnace, repairs, upkeep, taxes, etc on your properties. Over the course of time the mortgage gets paid off, the value of the property increases, and you see a profit. Once the mortgage is paid off you get to see a lot more money! For many, owning rental properties is not about a paycheck but instead is a retirement portfolio.

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Re: Looking to start. by Anonymous on November 7, 2009 @16:53	[ Reply ]
Micah, this is exactly what i want to do. I make decent money at my current job, but with rentals, I could have a much larger sum of money to retire on. I am only 23, so i have a lot of time to build up wealth, the younger you start, the more you can make imo.

Re: Looking to start. by Anonymous on November 7, 2009 @17:04	[ Reply ]
How many of you have had a property value increase in the last two years?

Re: Looking to start. by Micah on November 7, 2009 @17:33	[ Reply ]
I have, but thats because I researched A LOT and bought at a great price. But like I said, you have to take the long view on property value.

Re: Looking to start. by Anonymous on November 7, 2009 @18:40	[ Reply ]
Long View? I am reminded of a famous economist named John Maynard Keynes. He said that in the long run we will all be dead.

Re: Looking to start. by Anonymous on November 7, 2009 @18:44	[ Reply ]
And your property has increased in value during the past year? What about the rest of it?

Re: Looking to start.