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Real estate
Is investing in real estate worth it?
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[QUOTE="Holicent, post: 257859, member: 76163"] Real estate is a great investment if you're looking for passive income. A rental property can provide you with cash flow every month and help you build wealth. But there are a few things to consider before committing to a real estate purchase: Will the rent cover your mortgage? If not, then it's probably not worth buying a house. In most cases, you'll need at least 20 percent of your gross monthly income in order to make sure that the mortgage payments are covered. For example, if your monthly rent is $1,500 and your monthly expenses include $1,000 in mortgage payments and $500 in other expenses like utilities, then your net income will be around $300 per month. That's below the 20 percent threshold needed to cover the mortgage payment on a house that costs $200,000 even though the rent covers all other expenses. You'll have to wait until those expenses go down before buying the house in question. Is there room for growth? You'll need at least 10 percent of annual household income available for equity increases in order to make sure that your investment will grow over time. If you're planning on selling your investment within three years or so of purchase time frame. [/QUOTE]
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