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Would love something where every month I'm not putting my hands in my pocket to take money out but.
Money is coming into my pocket.
Clean -- -- Harris is nearing retirement.
In the 55 year old from queens New York is searching for an investment property that she hopes will become an income producing asset in the years to come.
I would like a rental property but ideally.
If I could afford it that is.
I would love a two family house where I can live on one floor and then get income from the other floor.
And so that would help pay the mortgage.
And with funds saved the time couldn't be better.
Dottie Herman is the president and CEO of property group prudential Douglas Ellman.
And there's not many times that I can remember -- interest money was cheap and we'll -- -- -- the same time so and that -- anyone buying up.
The first home -- second home I'm just moving up is gonna benefit in this market.
Bill Kirschke the managing director at GE capital mortgage says that while property is a solid investment becoming a landlord is a responsibility that goes be yellow line finances.
There are a lot of unexpected things have been -- vacancies for Paris market conditions.
You know fires -- so it's like running them of small business DO Harris says she plans to manage the property on her own and is aware of the possible pitfalls.
Now I do have a passion for -- the -- But it is a -- investments and probably more headaches just because if it's the rental piece of property.
Then you might have -- that hit on hard times and what's the community can you afford to pay for it.
It is -- job.
And if it's effective job and you have to decide that you if somebody who's willing to do that if not then you would happen maybe employ a went -- Manager for the property which would be an additional.
What it would be additional money for you and would take away from the return that investment.
-- Harris has good credit.
But is concerned her speech might work against her when applying for a mortgage.
And let let's say someone's 55 years old by the time they -- -- but.
A thirty year mortgage there 85.
-- -- will discriminate based on age the reason for term of the mortgage is really to manage the payment per month.
-- with a term -- that's really the reason for thirty vs fifteen vs ten.
But you know hundred year old person -- thirty year old thirty year mortgage that's not an issue -- advises applying for a mortgage as soon as you're in the market to buy.
As far as mortgages today.
They take lot much -- aren't the banks aren't a lot what they want a lot more information.
So it definitely paid -- if you practice.
DR Harris says she's ready to seal the deal on a property in the next six months.
And she's RD learned her lesson with how quickly -- properties can get snapped up.
Sunday morning jumped in my car went to the property -- parked in front of the property.
And pick up the phone and I finally got the real estate person and -- at home.
It went on the market on Friday but it's sold in six hours.
When a good deal comes then.
It's always people who want.
So if you are not quick to act if you don't have your client who played if you -- -- working.
With somebody who's gonna let you know right away and if you don't get there on the Don.
-- For Fox Business I'm -- title.
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