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While upside is high in the area I interested in and there is plenty of reason to expect appreciation, assuming appreciation is what got a lot of people into trouble while I was on the sidelines renting.

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Am I simply barking up the wrong neighborhood/town/region if I want to be landlord? Should I consider a completely different strategy for this area? Should I consider a completely different area altogether?

Does the tax deduction for primary residence cover all or 1/2 of the mortgage in this case? Would it still be worth it to start this way anyway, even if the next deal was a flip, conversion, or other shorter term deal?

It isn necessarily, though my initial plan was to start with a 2 family and live in 1 unit. Not the same calculation, but it does make me a landlord and the next logical step would be to set up a next deal and move into that while keeping the first place renting both apts.

If you really want to be a landlord and own properties that generate profit each month you will have to look in lower priced areas.

People here seem to think that anything above 75% ARV is a non starter. Well I never seen a $300k multi anywhere near the area I talking about, but lets assume one exists. This isn conservative at all.

Edited Jun 26 2010, 11:27 by Mike D.

The biggest downside to living in one half of a duplex, IMHO, is you have your tenant right next door. Hopefully, you will have a good experience. Nike Jackets Ladies

edit: I should say that these numbers don work for cash flow purposes. If you have other intentions(betting on inflation, tax purposes) that may be Nike Tracksuit Set In Grey

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Living in 1 unit and renting the other seems like a good way to leave yourself with a low/no mortgage payment. I don see it providing cashflow though. So if your not planning on living off of your investments and just want help paying the mortgage(like that show on HGTV "income property") that a route you could take. Long term it could pay off because it is like the tenant paid for half your house, but in the short term it won produce income at those numbers.

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thread for a bad experience.

I like to think I Nike Jacket Pink And White smart enough not to make the same mistake now that my chance is finally coming.

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At beset, the rental income will reduce your cost of living in this location. That assumes you don have bad tenants and a bad experience. Better, in my opinion, to separate your residence situation from your investments. If you want to be a landlord, buy rentals that make sense. Live somewhere you like and can afford.

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I spent the better part of 6 months pouring over the market in an area near my current residence. The typical family 4b/2ba ranges from $400 to $550k AVR in the area I been researching.

By the 2% rule, I should never pay more than $120k for a house that rents for this little. Yet these places regularly sell for 4x that amount. I understand that the 2% rule doesn really hold true for the Northeast, but still. this best case scenario isn even close to any deal i seen discussed on BP.

Let me explain the thought process.

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Originally posted by NewInvestorNJ:Buy and hold definitely would not work with those numbers. I don know if that the only form of investing that interests you. If so then I would look elsewhere for deals.

A landlord investor's no

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