Quote:
Originally Posted by redpoint5
Harder to do with a $100k budget...
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Buy a duplex in a low cost region of the country - rent it out - continue to rent in your high-cost metro. It may sound crazy but every dime spent on a rental property is tax deductible. The same can't be said for your personal home. To me it is the best of both worlds with no maintenance on the rented home you live in but you still build equity in real estate.
We cleared $5000 in our first year on our $95,000 duplex that we purchased last summer. The house also appreciated $17,000 in that year.
We should have started doing this years ago.