Investing with a mortgage

1 Reply

I am going to be pulling the trigger on an investment property soon but I'm currently paying $1200 rent. I want to buy a house for myself and then invest. I want to eliminate my rent and then invest. 

how would I invest if I get a mortgage myself? My parents are going to live with me so I can "house hack", aka charge them rent if needed. What would be the best strategy? 

My goal is to buy myself a house and then buy an investment property single family to rent out. 

I'm not sure if the bank will count your parents rent. The goal would be for the bank would recognize the offset cost of your mortgage to help you qualify for a second. However they will recognize the income on the 2nd property, which should help you qualify. If you're in a market where the numbers make sense I'd suggest buying a duplex. That way you can offset cost with your parents rent and the other side income!