Have Someone Else Pay Your Mortgage Example II

Earlier this year, I wrote this post on finding a property to live in, but also renting part of it out.

Here’s another example in the East Bay in the much coveted Rockridge neighborhood literally a 5 minute walk from BART.

While I have been borderline on whether to sell my place or rent it out, this is another reason to sell. I need the money so I can buy a place like this.

$825,000

Top Level: 2 bedrooms, 1 bath

Lower Level: 1 bedroom, 1 bath

Total monthly property mortgage with 20% down = $3,000.

Lower level currently rents for $2,500 a month.

Net-net, you only pay $500 for your mortgage.

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Comments

  1. says

    WOW! That sounds like a pretty sweet deal! There are some houses in my dream area that have mother-in-law quarters or just lots of extra room. I dream of buying one and renting it out for cash or child-care/housekeeping/nannying. Then I wake up!! LOL!

    • Catherine says

      finding that down payment will be brutal, but pays off in the end to be able to offset your mortgage. let’s keep dreaming!

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