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Maine Voices: Small landlords are investing time, money in housing. It’s no ‘get rich quick’ scheme.

Por: Portland Press Herald Opinion May 11, 2023

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Here is a budget estimate for landlords to purchase a $600,000 three-unit building: $120,000 down payment. Mortgage: $3,000 a month. Rent: $4,500 a month. Property taxes: $750 a month. Net profit: $750 a month (excluding insurance, repairs, utilities, registration fees, stormwater fees, maintenance, plowing, yardwork). Many small-business property owners accept a small annual loss or a minimal profit for the short term. It is a long-term... + full article



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