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house price 200k,
mortage case: 5% down is 10k, 190k mortgage. mortgage payment 10k/year, rent income 15k/year, management and HOA fee 3.6k, maintainence+tax+missing rent 3k/year total income: 15k total cost: 16.6k
house price went up to 400k total investment: 10k + 1.6k x 8 = 22.8k
If I sell this house now, the investment gain is: today's house price - remaining mortage - total investment = 170k
So with < 30k investment, 8 years late, grow 600%. Not bad.
Just for the comparision sake, my 401k (on stock market) in the last 8 years didn't double. (lost a lot in 2000 due to bubble burst). |
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