Best properties to buy

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Uanna11
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Best properties to buy

Postby Uanna11 » Wed Mar 27, 2013 11:30 pm

Me and my father invest in residential investment properties and on average buy older style homes valued around $70,000. We have always bought these type of homes because their cheaper (which in turn means the morgage is alot smaller). We have always been afraid of paying to much for a nicer home because we feel there is more of a need for medium type homes. But this philosophy scares me because I feel once the mortgage is payed off they will be out of date and worthless.

Advise?

ThriftGenuity
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Re: Best properties to buy

Postby ThriftGenuity » Thu Mar 28, 2013 5:31 am

I think more info is needed. Are you buying these and renting them? Trying to flip them?

If renting, I would say this is what you want to stick with. The higher the price range, the more probability that your tenants have the ability to own their own home and you will not have a long term tenant. Plus, that means more properties for same amount of money, which means you've diviserfied rent income.
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