
05-28-2008, 01:08 AM
Buy Rent & Hold
Quote:
Originally Posted by Freedom69
I would have to say that flipping a property is much more profitable.
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I disagree with you Freedom,
Yes - tenants are a hassle, the key is to take your time and be selective and it can make all the difference in the world. I found teachers & healtcare workers to be the best. While most deals just barely cover expenses, the real money is in the equity over time.
I bought my first duplex in 1995 for $ 96,000 and ten years later it was worth $ 300,000. with my tenants paying the mortgage.
I could flip a house and make a quick $ 10-20K, but the money would be gone in no time. Plus owning rental properties give you a much better write-off