Sad and true!! I make digits and have been in my NY apt for some 30 years!! My rent today would be 3200. at least for a 2 bedroom apt. in the back with little light exposure, w/no special amenities: no d/w, no terrace, no new kitchen appliances. If renovations or newer appliances were procided by my landlord, my old stabilized rent would go up, already did when he added new walls, floors and bathroom!! But i still pay a fraction less than a new oncoming renter.
20% down!! Yea, on a cheap cheap Fla property that i can rent and then what?? And that's out of my ROTH. That heat would kill me anyway! The past ten years have been filled w/ medical challenges (for some its kids!). After the mortgage, you've bloody taxes up the kwazoo in some parts of NY.
If you didn't do RE at least 20 or even 5yrs ago, welllll ... Get something quick!! And be creative about it!!! Real quick! And yea, FNMA helps!! less interest than borrowing from my 401k.
I eek out a little play money here and fun. But i will be looking to up my game in due time.
GLTUA
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