Guess what, the greatest thing for this is: Permanent cash cow

I only have to pay 75K (10K renovation cost included) today. But it will give me a $1000/month cash earning permanently for the rest of my life. Of course, I have to pay tax, insurance and HOA fee, but I can still net 750-800 a month. Remember, over the long term, rent will trend up (afterall, this is in the high income DC suburban region).

How much work will be involved with this? Actually not a lot. Due to my skills in locking tenants for the long term - 24 months +, the turn over rate is low. After the initial renovation, the on-going maintenance is low because I have a good cheap contractor who can fix things for me for 50-100 per item. Major damage like roofing replacement or HVAC replace are not common. From anyway I look at, it's easy money.

If I can scale up this model, it's hard for me not to make good money. But my current hardship is getting financing. I bought too many and the credit crunch is making it hard for me to get more loans. I would appreciate if you have any good ideas.

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• I got the cash snowball rolling now -大家帮我买房- ♂ (421 bytes) () 10/20/2008 postreply 16:03:03