Skip to content
General Landlording & Rental Properties

User Stats

33
Posts
6
Votes
Ty Monroe
  • Lafayette, IN
6
Votes |
33
Posts

Renting a Duplex with parents, is this a good plan?

Ty Monroe
  • Lafayette, IN
Posted Aug 31 2016, 14:55

I am wanting to get a multiplex and be a landlord and OO. My parents want to get a house closer to town. so my thought was, could I potentially just purchase a multifamily house in Lafayette Indiana using a low down payment financing, since I would plan on being there for a while myself, then rent the other side to them (under market value and less than the crazy high mortgage they pay now, but still high enough to fill an emergency fund into the house) I would be using my own low living expenses to build up capital for my next investment property. I would like to know if anyone thinks this is a bad idea. it will be my first investment, but I figure renting to my parents (and making all the necessary lease agreements, I know very well that their rent will always be there at the end of the month.

Loading replies...