Re: Good things can happen to people who work hard. - Saab General Bulletin Board - Saabnet.com
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Re: Good things can happen to people who work hard.
Posted by turbocon86 [Email] (more from turbocon86) on Tue, 23 Oct 2012 07:48:40
In Reply to: Good things can happen to people who work hard., DougM [Profile/Gallery]
, Mon, 22 Oct 2012 14:03:06
My dad did this years ago. Bought properties on the cheap (most were fixer-uppers) and then rented them out to pay for the purchase and upkeep and put some money away. When he retired, he sold them all and holds the mortgages with penalties for early payoff. No windfall capital gains to pay because the money is trickling in. He'll have income for 20+ years for retirement, without having to be a landlord. Of course he does have to keep an eye on things to make sure the properties remain insured and that property taxes are being paid--things like that. So far only one owner decided to pay off early.
posted by 64.128.17...
Posts in this Thread:
- Good things can happen to people who work hard., DougM , Mon, 22 Oct 2012 14:03:06
- Re: Good things can happen to people who work hard., turbocon86, Tue, 23 Oct 2012 07:48:40 <-- Viewing This Message
- wow, SRS900S, Mon, 22 Oct 2012 21:51:13
- Pay down the loan with some of the profit..., Mark from Toronto, Mon, 22 Oct 2012 20:26:43
- A very good deal, RS , Mon, 22 Oct 2012 19:06:36
- Congratulations, Tim, Mon, 22 Oct 2012 18:55:45
- Congratulations!, MI-Roger , Mon, 22 Oct 2012 16:23:50
- Re: Good things can happen to people who work hard., NCCaniac , Mon, 22 Oct 2012 14:30:10
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