Friend of mine told me many years ago that if you want to just make some money in real estate, buy run-down houses, fix them up, and flip them. If you want to make a living AND make money, buy apartments. I guess its worked for him- he has about 120 units, with a cash flow of about $30,000 a month, even after having sold a couple of buildings.
The key is rental value compared to purchase price- you can get decent apartment bldgs around here for about $30,000 per unit, vs. houses for 100,000 plus. Apts rent for $500, houses for $750 to 1,000- you do the math. Plus, houses require much more upkeep, because each house has 4 walls and a roof, and apts have one exterior wall, and only a roof for the top floor units.
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Today's Featured Article - Choosin, Mounting and Using a Bush Hog Type Mower - by Francis Robinson. Looking around at my new neighbors, most of whom are city raised and have recently acquired their first mini-farms of five to fifteen acres and also from reading questions ask at various discussion sites on the web it is frighteningly apparent that a great many guys (and a few gals) are learning by trial and error and mostly error how to use a very dangerous piece of farm equipment. It is also very apparent that these folks are getting a lot of very poor and often very dangerous advice fro
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