Updated about 2 years ago on . Most recent reply
Overall thoughts on deal
I am considering buying my first property at around 700K, mortgage is around 4K, plan to rent half the duplex for 1600 and rent one room in my side for 800, leaving me about 1600-1800 per month. I plan to live there so I find a negative cash flow understandable to start. Rent is below market, which is about 2K, so theoretically, when I move out in a Year or two, the mortgage should be just about covered as I plan to increase rents. Vacancy rate is low and growth rate is high. Just a little worried about all of the numbers, but I imagine the house should pay for itself after 2-3 years or so. Overall thoughts? No financial advice, just thoughts.