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looking to buy a house...
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<blockquote data-quote="Jim Kemp" data-source="post: 478174" data-attributes="member: 13379"><p>Try buying a duplex. Live in one side rent out the other. You can build equity faster with someone else paying half the expense. Half of all maint. and other expenses are tax deductible.</p><p>I bought one the first year I worked at UPS. It is now paid off and has been a great investment. An extra couple of thousand per month will help the old retirement plan.</p><p>Also the second house I bought I kept when I moved up to another and so on and so on. I now have four rent houses.</p><p>Hard to go wrong with real estate.</p><p>Down side is that the equity is not very liquid. If you need the money it could take months to get it.</p><p>Just don't buy into any of these "creative mortgage" schemes such as "Buy down", "wrap around mortg". "deed for title" or "adjustable rates". Go with a straight mortgage. All the others spell TROUBLE.</p></blockquote><p></p>
[QUOTE="Jim Kemp, post: 478174, member: 13379"] Try buying a duplex. Live in one side rent out the other. You can build equity faster with someone else paying half the expense. Half of all maint. and other expenses are tax deductible. I bought one the first year I worked at UPS. It is now paid off and has been a great investment. An extra couple of thousand per month will help the old retirement plan. Also the second house I bought I kept when I moved up to another and so on and so on. I now have four rent houses. Hard to go wrong with real estate. Down side is that the equity is not very liquid. If you need the money it could take months to get it. Just don't buy into any of these "creative mortgage" schemes such as "Buy down", "wrap around mortg". "deed for title" or "adjustable rates". Go with a straight mortgage. All the others spell TROUBLE. [/QUOTE]
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