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The elderly and CD's

I'm not exactly elderly but it won' be all that long I suppose. I decided to keep a rental I have instead of selling it because the return on my money is really phenomenal. We are getting $1000 a month on a house we could sell for maybe $250K. What in the world could we do with that money that would earn us $800 a month which is what I figure we gross after tax, insurance, maintenance etc. Being a landlord is a pain in the butt but the profits are almost obscene. I have been a logger all my life and never really made alot of money but I invested in real estate and at one time had 3 rentals. Other people pay your mortgage as the house increases in value and that is the reason I am on easy street now. Rentals ROCK!
 
I'd like to know more about those obscene landlord profits. I haven't achieved vulgar let alone obscene (but I'll know it when I see it). What rate of return are you getting?

I've bought 7 rental properties over the last few years and they do provide a decent return, although the very long term is still unknown to me. I did this so I could just leave my money in low yield accounts so I can safely go on to my dotage. I'll be 70 in August.

I figure I get about an 9-10% return. Ar you doing much better?




sawyerloggingon said:
I'm not exactly elderly but it won' be all that long I suppose. I decided to keep a rental I have instead of selling it because the return on my money is really phenomenal. We are getting $1000 a month on a house we could sell for maybe $250K. What in the world could we do with that money that would earn us $800 a month which is what I figure we gross after tax, insurance, maintenance etc. Being a landlord is a pain in the butt but the profits are almost obscene. I have been a logger all my life and never really made alot of money but I invested in real estate and at one time had 3 rentals. Other people pay your mortgage as the house increases in value and that is the reason I am on easy street now. Rentals ROCK!
Click to expand...
 
specklebang said:
I'd like to know more about those obscene landlord profits. I haven't achieved vulgar let alone obscene (but I'll know it when I see it). What rate of return are you getting?

I've bought 7 rental properties over the last few years and they do provide a decent return, although the very long term is still unknown to me. I did this so I could just leave my money in low yield accounts so I can safely go on to my dotage. I'll be 70 in August.

I figure I get about an 9-10% return. Ar you doing much better?
Click to expand...

The rental I have left was long ago paid off by renters and my wife figured out we were making 24% on our $250K the house is worth, beats anything else we could do with that money. Before rentals are paid off they basically pay the mortgage but once you own them it's a nice income.
 
CD = Certificate of Depreciation
People love them though bc of the FDIC insurance they bring; however that insurance is mighty high when you consider the opportunity costs of comparable strategies.
 
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