Some good advice given, I would confirm the importance of putting aside a fund for maintenance and risk, especially in the 1st few years, (7% and 10%) over 20 years important, crucial to your retirement.
Experience with 2 rental properties: not convinced that the renter pays all. In France, (50% population still rent), the Barons work on renter covering management, taxes, maintenance/repairs, risk, property upkeep and the owner only pays the capital over the term.
Those I know in the UK have indicated that property investment is a 0 to 5% return, but then he was selling me something else ;_).
So, if you put the equivalent in the bank as savings, get a 4% risk free return, that is what you can look for in property, based on buy price. The reward comes from the resell value in 20 years, assuming at that time you are not in a position to have to sell, so have another "thing" to ensure you are not caught needing to sell and can wait a few years extra.
Some good advice given, I would confirm the importance of putting aside a fund for maintenance and risk, especially in the 1st few years, (7% and 10%) over 20 years important, crucial to your retirement.
Experience with 2 rental properties: not convinced that the renter pays all. In France, (50% population still rent), the Barons work on renter covering management, taxes, maintenance/repairs, risk, property upkeep and the owner only pays the capital over the term.
Those I know in the UK have indicated that property investment is a 0 to 5% return, but then he was selling me something else ;_).
So, if you put the equivalent in the bank as savings, get a 4% risk free return, that is what you can look for in property, based on buy price. The reward comes from the resell value in 20 years, assuming at that time you are not in a position to have to sell, so have another "thing" to ensure you are not caught needing to sell and can wait a few years extra.