I want to make sure my thought process is more or less so correct.
– Buy property #1 as primary, live in it for 1 year, maybe rent out basement on day 1 to help with mtg.
– Buy property #2 as primary (so only 5% down and better interest rate than investment), rent out house #1 for ideally more than mtg + utilities.
– Repeat for X properties
I can most likely rent my current house for $500 more than mtg + utilities and will assume that for all future properties.
house 1 – $6k/yr in cash flow + ~$10k in equity + ~3% appreciation = ~$31k
– Obviously this is assuming a super tenant and little to no issues.
– live in house 2 for a year and then rent out, ideally for similar. Now i’m making $31k * 2/yr
As time goes on the renter is putting more equity into the property and appreciation $ increases.
submitted by /u/justlking1291248657
[link] [comments]
I want to make sure my thought process is more or less so correct. – Buy property #1 as primary, live in it for 1 year, maybe rent out basement on day 1 to help with mtg. – Buy property #2 as primary (so only 5% down and better interest rate than investment), rent out house #1 for ideally more than mtg + utilities. – Repeat for X properties I can most likely rent my current house for $500 more than mtg + utilities and will assume that for all future properties. house 1 – $6k/yr in cash flow + ~$10k in equity + ~3% appreciation = ~$31k – Obviously this is assuming a super tenant and little to no issues. – live in house 2 for a year and then rent out, ideally for similar. Now i’m making $31k * 2/yr As time goes on the renter is putting more equity into the property and appreciation $ increases. submitted by /u/justlking1291248657 [link] [comments]
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