Quote:
Originally Posted by xpress 
I currently own 8 pieces of residential property. (All Semi-Detached)
Fortunately, my city is 'home' to amazing property values.
Each 1500 sqft. semi cost ~129k per side, and rents for $1k-1.5k/month. (Two are next to a university, and thus renting by room yields greater returns)
All property is less then 5 years old, and repairs are VERY minimal. (I'll sell these prior to the 10 year mark in an effort to avoid roofing bills, foundation issues, etc.)
I should also mention that I don't take a dime from these properties... I consider them a long term investment... Property has seen an increase of 8% per year for the last 10 years, and shows no signs of slowing down.
Also, throwing 1k-1.5k a month at a 129k mortgage doesn't take long to pay off!
I currently own 8 pieces of residential property. (All Semi-Detached)
Fortunately, my city is 'home' to amazing property values.
Each 1500 sqft. semi cost ~129k per side, and rents for $1k-1.5k/month. (Two are next to a university, and thus renting by room yields greater returns)
All property is less then 5 years old, and repairs are VERY minimal. (I'll sell these prior to the 10 year mark in an effort to avoid roofing bills, foundation issues, etc.)
I should also mention that I don't take a dime from these properties... I consider them a long term investment... Property has seen an increase of 8% per year for the last 10 years, and shows no signs of slowing down.
Also, throwing 1k-1.5k a month at a 129k mortgage doesn't take long to pay off!
Yeah...but you've moved from home owner to home investor. Buying real estate as an investment is a very different thing than purchasing a home that you want to live in and then hoping it turns out to be a good investment. Investors can buy homes in areas that have good investment potential even if they wouldn't actually want to live there and they can hold them for whatever time horizon makes sense. Home buyers are going to be restricted to areas they want to live right now (not 10 years from now when the up and coming area actually comes) and once something becomes your "home" it becomes hard to make sound investment decisions about it (it might make sense to sell now...but you would then have to pack up your family and move so you decide not to sell).
Conne is not a good candidate for home ownership...he doesn't even want to stay where he is in the near future let alone still be there 10 years from now
Um, do you mean this New Brunswick? 
