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10-07-2009, 06:23 PM #1
Renter
- Join Date
- Oct 2009
- Posts
- 3
Mapping out a new career
I am considering investing in 1/2 Duplex homes in a nice area. The homes are all around $175,000 and all built in the past 10 years. To make it worth my while I would need to buy a minimum of 10 homes in the next 2 years.
I would put down 20% on each and the rent would pay the remaining costs on 15 year notes. Besides paying off the homes, I would not see a dime from the monthly rents until the 15years is up. I am in a good financial position to cover any costs along the way that may come up.
So now here is my question....I have a good supply of quality homes to buy, my area has very low unemployment, I am in one of the fastest growing burbs in the country, the area has few vacant homes....Seems to me, the only thing I lack is experience. So if I make sure all units are rented before buying another, where is my risk?
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Market is tipping and going down
I would work on my education for now....
look at 100 deals first and then look at purchasing
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