Sunday, July 12, 2009

Profitting from rental properties

One strategy for making money investing in real estate is to buy a home or a condo and then rent it out. This is great if you have enough cash to buy the property outright. If you are not buying it outright and need to get a mortgage to do this it can still work but you won't be in profit until the mortgage is totally done. Many people did this in the 80's until the savings and loan crisis screwed up all their mortgages and lending companies went belly up. Many people lost most of their wealth when this happened.