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Old 08-23-2006, 08:56 AM
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Default Re: Would you buy this rental property?

I found a better way to make money is to buy land. I bought 5 acres for $20,000 in Florida. I put it up for sale and got $35,000 on it. I held the mortgage and made 8% interest in it for several years. I stipulated that no trees could be cut except for clearing of the house. They made payments for several years and then paid me off in full.
I would rather take a chance on land than a rental property!
I soldmy last one for $14,000 at an auction. I paid 35,000 for it in the 1980's!
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