Re: Ask tommy2 about Real Estate
We live in a rural community in the midwest, (small towns and lakes), located about 2 hours from the nearest major metropolis. Genrally the resident population is low income. There's been a glut of properties for at least a year.
While the problems with sub prime make buying to rent attractive, we're not the landlord types and I'd be concerned about tenant quality. (Wouldn't it be fun to be a landlord for a meth house!)
So I'm thinking land. We could reasonably buy land and hold onto it for 20 years as an investment. Or we could possibly buy a residence on a lakeshore and just do weekly rentals to the city dwellers in the summer.
Any thoughts or advice?
The Poker Mom
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