Should I invest in Sacramento, Ca real Estate for Long Term?

[Lucas R]

I am 26 and make a little over $200,000 a year. I have recently aquired a couple of condo properties in sacramento that sold for $210,000 in 2005 and just sold for foreclosure to me for $65,000. They are beautifully rehabbed and I have both rented out for $900 each.

My land lord is $75 a month
and my association dues are $160 a month
and my taxes after re-evaluation should be $80 a month.

So only like $600 at best hits my wallet every month from the rent on each apartment.

There are many more apartments coming on the market- I have been purchasing them with all cash. I was thinking if I aquire 15 - 25 of them I could retire comfortably off of the cash flow and maybe sell the next time the market peaks - even if that is a very long time from now. Yes the properties are not in a prestine neighborhood mostly hard life working class individuals.

Let me know if you think this can be a way to financial freedom for me- or am I being an idiot. Can I retire early I hope
Thanks for the support- all my friends who are still broke and out of college are telling me I'm retarded for investing in Real Estate right now- I really feel like they are short sighted- if I'm 26 I really feel like I will catch another wave of appreciation one day even if its 10-15 yrs- and building a position now is ok.

I have no 401k sadly

[King Violation.]

Possible. But if your making a little over 200k A YEAR! I would stick with that and keep working build up your 401K if you have one. Then keep a couple of the properties, like you have now.

Thats what I would do. Its up to you but I would recommend keeping that good paying job of yours!

Also it was a smart idea taking advantage of the condos for so cheap! Because the people who are letting these homes go are having to live somewhere so they rent!