> Cam wrote: > Neah - I'm gonna live in it. You wouldn't make money renting out a > place like this. The math wouldn't work.
That's why you should rent! Usually you can get the same place for cheaper and/or you can cut all kinds of deals. We're going to do that starting in Sept in Chicago with a house in Wilmette. We're leasing for 3 years with a re-up each year and a choice to apply the rent to a purchase price. That way we don't take any of the market risk and if we choose to buy our payments are applied directly to principle! Anyway, this will be the second time we've done this - the first time it saved us a loss of $40,000. We thought we'd live in downtown chicago and were going to buy a brand new condo facing the lake in streeterville, right across the street from Navy Pier. The building has a bank, a drugstore, a 14 screen movie theater, and 2 grocery stores across the street. Awesome place. But just to be on the safe side we thought we'd rent and negotiated the buy plan. But then 3 years ago when events totally changed and we decided to stay in minneapolis, we were able to walk away without a problem. Had we bought we woulda been screwed. The reason people do this, btw, is because THEY bought and THEY are screwed. So they're willing to let you rent to cover their mortgage. Anyway, I suppose it's kinda complicated sounding but it's saved us some serious dough and hassle. With all the airline folks moving to Atlanta, maybe the market will stay solid but as DarkCloud and a fiscal conservative I feel obligated to share the tip :) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:263563 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
