Posted by test on September 17, 2003 at 13:48:37:
test
Ideas for investing $$$ in real estate - Posted by Teresa
Posted by Teresa on September 11, 2003 at 08:38:37:
My husband and I will be selling 40 acres of land that we purchased 6 years ago for $40,000 and can now sell for $80,000. We will have to pay capital gains on the $40,000 if we don’t reinvest it. My husband wants to take $60,000 and put it down on a $220,000 townhouse. We could rent each unit for $900. I want to split the $60,000 and put it down on two cheaper places. He says this will never pay off, as they will be in less desireable neighborhoods. We are new to real estate and can’t decide what to do…We are looking for a sort of retirement income, as we are self employed.
Any ideas?