Have Someone Else Pay Your Mortgage

Since I’m about to sell my condo, I have been on the lookout for a new place. A new abode isn’t necessary until we get pregnant, but I figure it doesn’t hurt to look and it gives us plenty of time to find our dream house. Despite the low inventory, there are still a few places I feel are perfect. I couldn’t believe it. I bookmarked a handful and have been picturing us moving in with my big red couch in tow.

I am particularly drawn to homes or buildings with a separate living space for rental income. It’s the perfect scenario. Buy a home, rent part of it out, have that rent cover your mortgage.

Here’s an example of a home currently on the market that fits the bill. I considered not posting it because I think it’s such a steal, but looks like there’s a sale already pending.

Location: Mission Terrace, a few blocks away from the Glen Park BART station

Price: $689,000

Main Level: 3 bedrooms, 2 baths

Lower Level: 2 bedrooms, 2 baths

Mortgage with 20% down: $2,475, with no ridiculous HOA fees

Rental income for the completely separate and private, lower level 2 bedroom, 2 bath next to BART: think of the possibilities! Essentially, you can forget about paying your mortgage and have your renters pay it for you. Is this the best investment deal or what?!?!?!

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