Re: Let us do a rental property exercise
never buy a rental unless u will have 200-300 postive cash flow per month.
first rental property can be had using normal interest rates, after having 4 properties including primary then u have to get commercial rates (could be 2 or 3 depending on your salary).
know in detail all of the landlord/rental laws of your state/county and town. usually there are different laws btwn single home, duplex, apartment, etc. could be added cost. some towns have annual inspection fees.
suggested reading rich dad/poor dad books there are more than one. there is one specifically for multi-unit properties and the book written by him and trump.
good luck and God Bless.
"Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798
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