With a goal to have paid for rental property as soon as possible would you…
Pile money in a mutual fund to save and pay cash?
Or pay 20% down and put in a renter, then pay the money you would have been putting in the mutual fund to pay down the principal quickly?
I’m don’t need the income from a rental now. Rather, I’m looking to acquire enough paid for properties to replace my current income in the future.
Something I love to hear! Other investors who are actually in it for quick wealth and can live with little cash flow to get there :biggrin I would buy using the Hooch Method in low income areas and make double payments on a 15 year loan which will pay it off in 5!
Look here:
http://www.reiclub.com/forums/index.php/topic,43281.0.html
looking to do the same…trying to buy a block of a local bank right now
I need to start finding deals…problem is I’m finding it time consuming to find the good deals. I’d be willing to buy all day at rentX45-50 if people are finding the rentx30. Any wholesalers out there? :banghead
I just gotta put the time in…good thing patience is not a problem I can wait for the deals ;D