Slumlording?
May 8th, 2008 | by Robert |
If you think that investing on low-income housing will make you feel like a slum lord, then you may need to change your attitude about it. Consider it as doing a service for those who can’t afford a big house instead.
A good example would be comparing a house and a mobile home. If you bought a house for $130,000 and rent it out for $800 then you’d be in the red compared to a mobile home bought at $45,000 and renting at $500. Ergo, more profits from an otherwise lowly mobile home.
The only problem with low income housing is managing the repairs because it’s not of a high quality compared to middle-income houses.
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