Quote:
Originally Posted by Bugeater
No mortgage and no dependents anymore means we're getting ****ing killed with income taxes. The Mrs is getting bought out of her pension soon, she just wants to dump it in her 401k, which already has a substantial amount of money in it. I was thinking maybe we should buy a rental house. Hell it probably wouldn't really make any money until we sold it, and it will likely lose money the first few years. Smart idea or not?
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Buy a decent home in a good neighborhood in a good school district, and you won't lose any money. With a home like that, you can be picky about your tenants.
People who care enough to live in a house like that tend to take care of the property. People like nice things for their kids.
We have a couple of rental properties, and while we see them as investments, we also see them as an opportunity to provide nice homes to folks who, for whatever reason, may not have the desire or means to purchase a home.