Is rental property a good investment in today's US economy

NO SPAM

KEEP IT RELEVANT

WE WILL DELETE SPAM

NO LINK SIGNATURES

BE HELPFUL

BE NICE

Is rental property a good investment in today's US economy

Logged in as: Guest

Users viewing this topic: none

Printable Version

All Forums >> [International] >> USA >> Is rental property a good investment in today's US economy

Page: [1]

Message

<< Newer Topic Older Topic >>

Cartersville

Posts: 1
Joined: 29/3/2003

Is rental property a good investmen...

I bought a rental property almost two years ago to help my stepdaughter. I borrowed the downpayment so that I have a lst and a 2nd mortgage totaling payments of almost $1100/mo including PITI. She is only paying $600.00 a month. When I bought it I had just married her father and moved into his house. I thought that this would be a good way for me to help my stepdaughter and at the same time have her help me build equity. My plan was to within ten years pay the house off and have an income generating property. My income has since taken a downturn and it doesn't look like I'm going to be able to pay it off in that time frame. I can't decide whether I should struggle along, pay off the second and raise the rent or just sell it, help her find something else, take my losses and move on. Is there a formula that someone knows of or someway to help me make this decision?

0

Report Abuse | Date 29/3/2003 4:27:00 AM

Guest

Is rental property a good investmen... (in reply to Cartersville)

Well, It seems to me you were trying to cash in on your stepdaughters disadvantage state, maybe use her as she would keep the place in order at the same time pay your rent/ mortage. you want to have your cake and eat it too. Well i guess you're trying to be smart like all stepmothers around the world.... what i don't understand is why your step daughter had to move home in the first place?