Quote:
Originally Posted by UteStar
I think it is a terrific investment if you plan on doing over the long haul. It is NOT for everyone. You will deal with deadbeat renters and you will deal with many small fixes and home improvements.
A good friend of mine is making a decent living but he owns 5 different properties. If he were to sell now, he would bank about $600,000. If he holds on to them over the next 10-15 years, he will retire to a very nice life. If you don't mind being hassled and dealing with people, it is well worth it. If that kind of stuff bothers you though, it may be too much trouble for you.
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That's what I meant by it is a business, not a passive investment. And like any other business you might consider getting into, you have to decide if it fits you.