01-16-2019, 03:46 AM
(01-15-2019, 08:34 PM)videogamesrock Wrote: Remember, renting that same house would run you $1050 a month instead of the $500 a month through ownership.
If you think that it's hard to qualify for a mortgage making $16k/yr, imagine trying to qualify for one on a rental property for that amount. You'd need a larger down payment (typically 20%) and great credit - which I doubt someone who makes $16k has.
Your scenario just keeps getting worse.
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