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Updated almost 11 years ago,
need advice, buy and hold
Hi,
I have a good day time job that brings me steady income. I like my job and I do not want to become full time landlord. I am trying to find out what should I invest my money in. Let's say I have 100,000 USD right now. I want to find a property that requires minimum maintenance. I do not want to become a millionaire in five years and risk my night sleep and have headaches. I can live with minimum profit as longs as it is not risky and it requires less attention.
Right now I am thinking of getting a small apartment in the most expensive area next to where I live. For example 600 sq ft apartment costs 280,000; it rents for 2000. Is this crazy? My reasons are - I will deal with good people in expensive area; Apartments require less maintenance than houses. Please advice!
Thanks!