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Updated over 16 years ago on . Most recent reply
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What's wrong with this?
I'm from Buffalo, NY, and prior to moving to the metro DC area I purchased a 2 unit property in Kenmore (suburb of Buffalo). The cost was 80k and after paying my mortgage payment I pocket approx $200 a month. It's not BIG money but I am having a mortgage paid off for me and still bringing in a little extra. Right now I'm looking to purchase another 2 unit in the same neighborhood. Same amount of money, pretty much the same deal. Hopefully I'll be moving back to the Buffalo area soon as well. My question is, what's wrong with this? I have posted this in other areas when looking for advice on financing etc..and I seem to get negative responses to what I'm doing. What do you think?