renting out your own condo is a BAD deal...because I heard if something goes bad.....guess who will they be calling:-)
I am already in debt...just in school loans I owe uncle Sam about 25-29K!!!
Originally Posted by preso
yes I think you need to be saving 100% right now so before the economy improves, so you can buy a house while the economy is bad. You can always rent out your condo and if its paid off, it will be extra income.
If its not paid off, someone else will pay it off for you and you will have a nice tax deduction keeping it up for a rental.
In buying a house, you usually get what you pay for, but in this economy you can find SUPER DEALS
( in some areas SUPER DUPER way out there kinda deals), which in the coming decades may not be around anymore and you will end up paying triple for a house.
I think you should be saving everything you can and buy a house in the bad economy...
I did this back in the last bad ecomonic downturn in the late 1980's and now... lets just say, it was the single best thing I ever did.
If your realllllly smart, you will not only find a superdeal
in this bad ecomony
but also... live below your means and avoid getting into debt.
If you can do that and work you will be able to live the good life and maybe even retire early.
You'd be one in about 4 million.