Isnt real estate profitable most of the times if you have the cash?

[Vaishal Patel]

Ok here's wat i think.Lets say i have 250k in cash and i am looking to buy a investment property for 250k. since i am buying it with cash i dont have to worry about mortgage.I buy a good property in a good neighborhood.I hire a management company to maintain and find tenants for the property.Since its in a good neighborhood,it will be full within few weeks.I charge 1500$ rent/month (same as the other properties in the neighborhood).After property management charges,insurance,property tax and repairs i make about 1000$ profit/month of 12,000 anually. Also i am looking to hold the property for atleast 15 years and property prices generally appreciates over long period(most properties would be worth more today then they were in 1997),After 15 years my 250 k property would be worth around 350k.so with a 250k investment i make 12,000/year +appreciation. Is this the right way to think or i am making a mistake??Thanks