Quote:
Originally Posted by Fidatelo
Why would you flip it right away? Why not hold it as an asset for years? Have you heard of renters? Those guys tend to cover a lot of expenses for smart property owners.
Good grief, the short-sightedness of some of the people on here is mind-boggling.
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so instead of getting $350K guaranteed cash, you're going to deal with renters, having to repeatedly find renters when your old ones move out, having to take renters to court if they fail to pay rent, pay money out of your own pocket for repairs (no one said you'd be getting a new house worth $500K), and wait the 15 years it would take to get the equivalent of $350K (if you charge $2K a month in rent). whereas you can take that $350K, put it in an investment and start raking in the dividends while sitting on your fat ass doing nothing.
investment properties are great, but if i can bypass that nonsense and just get broken off cash - dolla dolla bills yo - then i'm declining the nonsense that comes with renting a property and getting guaranteed money.
this is what happens when people fail to look at all the angles. this is why this country is in the housing crisis its in, because people think they're smart. i know Fidatello is from Canada, it's comforting to know that stupidity is not a concept exclusive to americans.