Duplex for my daughter and husband
Hi everyone!
I like some advice on something I would like to do. My daughter and husband are young and do not have the funds for down payment. They are looking to relocate back closer to our home town. I have been addicted to bigger pockets blog, podcasts, and webinars for the past month. I plan on doing some real estate investing of my own, And in the process I think I have found a good option for this young couple. There is a duplex in the part of town that would be good for them to live. It is a side-by-side that is separated by the garages. Each unit is a three bedroom one bathroom. I have only seen the pictures on Zillow, but it looks nice. The asking price is $189,000. I would think that my daughter and her husband would be eligible for a FHA loan or even an USDA loan. Rental prices for a three bedroom duplex should be $800. I haven't figured out what PITI Would be yet
It seems as though if they could rent one unit and live in the other unit they might only need to pitch in a few hundred bucks of their own for rent to pay the mortgage etc. My question is this: Am I on the right track? I would appreciate any comments from the blog. Thanks