Real Estate Income

[Norman Ashworth]

HI,

My wife and I will be locating to SW FL in the near future and was wondering about real estate income.

We will need income , now & latter so we are looking into duplex's, tri-plex, etc. for a income going forward. We would be 80% cash buyers but still would take a small amount of mortgage that would be paid off in 2-3 years.

We own a home & condo , no debt. We have never had rentals so we would start with a property mngr.

Is this a pipe dream or something that can be done......If it can be done what are my concerns & nightmares going forward.

thanks for your time,
normana61

[Rich Weese]

One small correction. If you only have a 20% LTV, you should clear much more than $100 per month. A 20% loan is stupid. If you ever get in trouble, bank will foreclose on that one first. Buy free and clear and another one mortgaged to the max. Different entities for each due to liabilities. Hopefully your current home and duplex are well protected from potential liability and litigation... Good luck. I'm in SWFL. Lets' go to lunch when you get here. I have noyhing to sell you, no ulterior motivess, but I love to eat!! Rich