Ok. I admit. Math is not my forte. This must be some new math or I’m just not using correct numbers. Even if I use your numbers and really give the benefit of doubt and he/she put 80k down that wasn’t a HELOC (b/c then they’ll have that additional monthly payment of what? 500?)
Now, I am not sure of how much they can write off on taxes. That’s another weakness of mine. Is he/she writing off 1400+ a month?
Say they are. So now they’re breaking even. What if something breaks in the house? How long before that 80k makes him/her money? How long are they holding on to this “investment” before they can sell it and make money? Is the rental market going to be the next bubble and next year they’re renting it for 5k?
Maybe I should find a realtor cheerleading board so I can understand. Everything I’m reading is saying market will go down in 2008, best optimistic is flat in 2009 and maybe pick up in 2010. The dire ones are saying it will suck until 2011 and then pick up.
