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Live in House for 2 Years and then Rent...Help Analyzing the Deal
Hello Biggerpocket Friends,
I am considering buying my Mom's house and living in it for 2 years and then renting it out after that. We are currently living in the house so we either need to find a new place to live or buy this one and move in two years so that we are closer to the school that my kids will be attending then.
The current numbers only give a ROI of around 6%, but I am wondering if the fact that I want to live in it for 2 years makes it worth doing? The house is in excellent shape and I have estimated the CAP the best I can. Any suggestions on how to make the numbers work? Refinance? Sell at a certain point?
Thank you in advance!
*This link comes directly from our calculators, based on information input by the member who posted.