You are now all expecting something amazing, different and so totally impossible that you can’t possibly do it in your lifetime.
Nope, this is something that most anyone can do. If you don’t already own a home, buy one today! If you already own a home you are already on your way to financial freedom and becoming rich.
The secret is to use the equity that you have built up in your present home and use it as a down payment on a duplex. This is where the amazing, different and totally impossible part comes that you were expecting earlier. (Not really)
You put $30,000 down using the equity in your present home on a duplex that costs only $215,000 you have an outstanding loan of $185,000 and charging $700 rent per side you are making $182 per month after paying the mortgage, taxes and insurance and you get the tax deduction on the interest on the mortgage. Between the mortgage reduction and tax breaks you will be earning up to 19% on your initial investment of $30,000. Now in less than a year if the property appreciates enough. you can now use the equity in you new investment to start the process all over again with another duplex. Within 5 years you could be earning over $1500 per month just from rental income and have no out of pocket expenses. Also you will have deductions on your work income on your taxes from any repairs and mortgage interest that you are paying. The tax deductions could be up to $25,000 per year. Think the government says we will give you up to $25,000 off your taxes if you are just willing to collect rent and put it in your checking account each month from people who normally can’t afford a home.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739
© 2009 Todd Clark - Beaverton Oregon Real Estate: How to Become RICH!!!
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
What if there was a way you could search the MLS for FREE just like Realtors
Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!
