Dude… lol, you do know that real estate “tanked” as well correct? You know why they say “now is the time to buy a house”…Becuase the market absolutely sucks. Theres no difference between property and gold really exepet gold is undetectable and no stress.
2-3 properties is making you chump money.
Lets say you spent $100k on each property and you have 3 of them… Lets say your taxes on each one is $5k and you rent each propery for say $1,000 assuming there all two families.
$3,000 a month times 12 months is $36,000 TOTAL. Now deduct $15,000 in taxes and your at a measily $21,000 which a starting position at dunkin donuts pay… This is not to mention you are never gaurenteed to have all of your properties rented at once, have someone NOT pay you, or repairs to your house…
Last, at $21,000 a year profit which btw is MAX b/c of the variables ive explained it would take you 14 years with NO interest to even START making money…
like I said before, unless your doing it big real estate is not a good investment unless your thinking of retirement money or something…
an 8-10 unit rehab property would probably be the only thing I would do besides buying and flipping properties… In other threads I exlained theres a 9 unit plus store front on brandywine in schenectady, can get it for $65,000… Probably needs $10k worth of work putting you at $75,000. Rent each unit for $650 and the store for a G and your bringing in $82,200! Take off $17,000 in taxes lol and your at $65,200…THATS the only way to do it.