Re: Efficiencies - Posted by Brian, WI
Posted by Brian, WI on March 20, 2002 at 16:31:01:
Call them efficiencies, or I guess rooming houses if they are being rented on a week-to-week basis.
In December of 2001 I owned 3 rooming houses, today I have just one. The reason is long and don’t need to get into it here, but my POSITIVE NET cash flow from 3 rooming houses about equaled my GROSS pay as a Police Officer!!!
Yes they are more labor intensive, etc., but with that kind of cash…maybe it’s not all that bad hey?
Well anyway, with paying down the mortgage on the remaining(largest) rooming house, I ran some quick numbers and will be in about the same boat!!! NET income from just 1 rooming house about equal to my GROSS income at work. Things worked out well for me.