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this post was submitted on 01 Apr 2024
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Asklemmy
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The third statement might be true, but it does not follow from the first two. Are the two houses of equal size? Are they in equally desirable locations? Also, is the market price of the house you are renting out increasing? You need to account for these.
Sorry, maybe I wasn't clear. I meant the rent I receive from my tenant doesn't cover the interest on the loan for that place. I don't own the apartment outright. I have a mortgage with a bank. That bank charges me interest on the loan. There are also other costs of owning.
Ah okay.