Quote:
Originally Posted by Axeman
Ok so your $50k is kinda a false premise based on the fact most people don't have access to millions of dollars to buy a multi unit property and average down the cost per unit.
For the basis of this thread your idea is pretty out of place.
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Not quite. It's based on the fact how much the apartment you're renting is really worth vs how much you're paying (he said a similar apartment would worth 400k to buy which is not right). The brand new condos (much better living quality) which a regular person would buy to rent out would be worth about 250k with monthly expense about 1500 (for rental properties thou one should pay cash or make a big down payment) would rent for 16-1800. You'll rent that condo only if you want something nicer than regular apartments. He'll really make a profit (unless he paid cash or big down) however when he sells the condo few years later and not while renting is why individual condos don't make too hot rental properties you're better off buying an old house for dirtcheap, renovating yourself if you got the skills and renting it out.