Strategy for Homeowners
Today, we are going to talk about buying a duplex and living on one side.
This is a common strategy for real estate investors and can be a smart financial move.
By renting out one side of the duplex, you can offset your mortgage payments and generate additional income OR pay your mortgage balance faster.
One of my first-time buyers decided to buy a duplex for their first house. They live and work in Eugene, Oregon.
Crunching the Numbers
They found one for $550,000 and put less than $20,000 down.
They rented out one side for $2500 and lived on the other side for $1500. That left them extra money to build their maintenance fund. They get to practice being landlords with one rental unit next door.
If you want to start building your real estate empire, call us today – We make it easy!
