We recently moved to accomodate our desire for city living with a bit of a country life feel. We got a beautiful ravine front bungalow. My kids say it's country in the front, city in the back.
One of our neighbours owns three houses on the street. They are rented and used for storage as well. These are pretty expensive prime lots. I imagine he bought these three houses kept them tenanted and paid down the mortgages over the last 25 years until he got mortgage free.
He now has a steady cash flow ( aside from taxes, insurance and repairs) and easily one million plus just for the lots....
If that isn't an excellent long term strategy I don't know what is!
You don't need 20+ houses you would do well with only one.
“We have always believed that real estate is a safe long-term play. The numbers don’t lie – since prices have begun to be tracked, they have increased,” “Of course we have seen short-term fluctuation with dips and corrections, but in the long term the arrow has always pointed up.” Don Campbell
Real estate is not day-trading - read more HERE
Comments(4)