I Want To Invest But Have A Single Family Home Mortgage

[Hector Serna]

I know this is going to be difficult, but does anyone have any idea or advise (Long or short term) on getting into the rental property world when you have an entire mortgage that you’re taking care of? And no, I cannot rent out my current place and move into a multi family at this time, the house wouldn’t rent out at the current mortgage price. Chicago land area. THANK YOU!

[Bill B.]

Sweet. You only have one mortgage? The world is your oyster. I had 10 mortgages while “unemployed” when I build my rental portfolio. Imagine being responsible fir $20,000/mo in payments with zero w-2 income. 

If you want to cut your profits/income in half, take on a partner. Rent out some rooms in your current property to friends/relatives/co-workers. That’s how I bought my first place.