Quote:
Originally Posted by Submariner
I have been a landlord at various locations since the 1980s. Often my tenants were people who earned more than I earned. If I could afford to buy, they could certainly afford to buy.
In most cases, over the duration of their tenancy, I got to know each of my tenants. The topic of renting vs. owning has come up many times.
The choice to rent is almost always a matter of emotion. It rarely has any relation to the financial ability to own.
you will never get a mortgage approved if you never apply for a mortgage. It is a self-fulfilling prophecy.
When someone has the mindset of "I insist that I can not get a mortgage approved", it would be easier to fly to the moon than to force such a person to apply for a mortgage.
I have owned apartment buildings when I knew at the beginning that I was only going to be stationed there for a total of three [3] years.
Not sure where this four [4] year idea came from.
I have never experienced this one.
In my personal opinion, Tri-plexes, Four-plexes, and Five-plexes are far better methods of building wealth, than a Single-Family-Residence.
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I’m curious to know how you came about to think multi plexes are better than sfh.
On what you’ve posted the money you cash flow and the appreciation on those cheap places you bought don’t amount to much.
On the other hand I had several sfh go from 50 to 180k in a few years.
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