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by insane_dreamer
318 days ago
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> "mortgage + tax liability + chunk of profit usually 25-50%" 25-50% is absurdly false. We own a second home which we've rented out for years (wasn't the original intention, but anyway ...). The rent covers mortgage, taxes, and upkeep. Profit is minimal, less than 10%. Once you factor in eventual renovations, like replacing the roof, floors, etc., there is no profit at all, or very little. |
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I keep getting anecdotes as some sort of glorious rebuttals. No matter. When the people are at their last end and the guillotines come, I will not shed a tear.