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?!?!?!

Related Posts Plugin for WordPress, Blogger...

Want Dear Vixen advice delivered to your inbox?

It's easy! Click here!

Comments

Trackbacks

Leave a Reply

Your email address will not be published. Required fields are marked *