Any Success Stories in Rentals? Does my idea make sense?

[Shaneel L.]

Has anybody made serious money in rental? i know it builds over time.

Im looking to buy some houses around 65-80k and rent them out and slowly build up to enough houses to make some solid cash. anybody has already done it?

Im looking looking at lets say, 1 house about 70k put 20% down, your mortgage is about 350, PM and other maintenance and insurance cost cost $250 more.

You can probably rent it out 850-1100 in those area where im looking at.

lets say i get a tenant who is paying $900 a month and my expense is $600

Im making $300 on each property. $300 is not much and wont last long but if you can own 50+ houses you are making good money.

I understand your first 4 houses you can finance it after that its a different method.

I would like to hear other people thoughts and suggestions. Can I make money this way?

1 thing i've learned is that it takes money to make money!

BTW, im based in Lawrenceville GA, Atlanta Ga. Any agents or fellow member have some things in GA, I would love to check them out and learn from it too.