Home Buying in Nevada City>Question Details

Ccherri, Home Buyer in Nevada City, CA

considering buying while prices low and rent it for 5-10 years. is this delusional? will rent cover the taxes mortgage upkeep for that period?

Asked by Ccherri, Nevada City, CA Sat Apr 28, 2012

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Hi Cherri,

You're not delusional by any means. In this market, homes are so devalued, they are below replacement cost and rental cost. So you could definitely make money, in most situations, by buying a house a renting it out.

I guess the question I would ask is why would you pass up the opportunity to buy and pay lower mortgage payments than rent? Why would you buy now and rent it out for positive cash flow only to buy later down the road with who knows what prices and interest rate?

There are more questions to think through...

Tied to your success,
Cary Sanders, REALTOR
Experienced Leadership You Can Trust
ERA Cornerstone Realty Group
530-362-6805 cell/text
http://carysanders.com
0 votes Thank Flag Link Sat Apr 28, 2012
It depends on the property, its location, what you pay for it and your interest rate..... If you want to contact me, I will be glad to discuss what property you are looking for....

Bill Stigall
Summit Realty Group
Nevada City, CA.
530-263-8174
01492663
0 votes Thank Flag Link Sat Apr 28, 2012
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