Wednesday, February 17, 2010

Be Shrewd

I know the title of the article doesn't sound too enthusiastic, but today's market is a time to be shrewd. Take advantage of the real estate market. Right now, you can purchase properties that were selling for $75,000 10 years ago, for only $15,000. Check your market and find out what is reasonable.

Perhaps you could purchase a 3 unit rental property. If so, one unit will probably pay the mortgage, the 2nd will pay more than the taxes and insurance. That leaves you with the 3rd unit for profit or perhaps a place to live!

Once the mortgage is paid in full, the 1st unit translates into more income. This is a great way to finance your retirement! Heaven knows you're going to need more than Social Security, if it's even still around by then.