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Reply #42: I bought a foreclosed HUD duplex in 1990 [View All]

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Blue_In_AK Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-12-11 07:02 PM
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42. I bought a foreclosed HUD duplex in 1990
Edited on Tue Jul-12-11 07:07 PM by Blue_In_AK
for quite a low price when the real estate market crashed here. We live in half (or actually more like 2/3 since this is a big place), and my tenant, whom I charge about $200 less than the market rate, is still paying about 2/3 of my mortgage. It was the best purchase I ever made. Everyone wins.

ed. And as Slackmaster mentions below -- HUGE tax benefits, especially with the rental, which pretty much runs at a loss every year after all the deductions.
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