Now is the time to invest in real estate:
Here is an example of cash flow for rental homes in Indio and La Quinta, California
Numbers are approximations
Home price: $200,000
Rent: $2000 a month x 12 months = $24,000 annual income
Property taxes $3000 annual
Gardener $1000 annual
Insurance $1000 annual
Net income $18000 = 9% return on investment if you pay cash. Plus you get tax writeoffs and have the opportunity to gain equity.
If you put $60,000 down and get a loan for $140,000, you payment is approximately $700 a month or $8400 a year.
You have a net income of approximately $10,000 a year plus tax writeoffs and appreciation.
Buying investment property now in La Quinta and Indio, California can be profitable.
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