All Forum Posts by: Michelle Christensen

@Greg Weik 

Hello,

Thank you for your response.

We are projecting a positive cash flow of $400 per month for our current property, and we already have tenants scheduled to move in this September. Regarding our second rental, we anticipate breaking even initially, but our goal is to increase the rent to market rates in December once the current tenants vacate, with an expected cash flow of approximately $200 per month.

For the potential duplex, we estimate the mortgage to be around $3,200 per month. We anticipate renting out one side for between $1,700 and $2,000. Both my partner and I are still employed full-time in W-2 jobs.

Please let me know if you have any questions or need further details.

Hello,

Thank you for your response.

We are projecting a positive cash flow of $400 per month for our current property, and we already have tenants scheduled to move in this September. Regarding our second rental, we anticipate breaking even initially, but our goal is to increase the rent to market rates in December once the current tenants vacate, with an expected cash flow of approximately $200 per month.

For the potential duplex, we estimate the mortgage to be around $3,200 per month. We anticipate renting out one side for between $1,700 and $2,000. Both my partner and I are still employed full-time in W-2 jobs.

Please let me know if you have any questions or need further details.

Hi everyone, I’m in a bit of a dilemma and could use some advice. I’m looking to purchase a duplex with the plan to live in one unit and rent out the other. I’m turning my current primary residence into a rental property.

The challenge is figuring out the best way to finance this new purchase. I'm weighing a few options: taking out a HELOC on one of my properties, getting a second mortgage, or simply waiting and saving up the funds. I'm really nervous about adding more monthly payments with a HELOC or a second mortgage, so I'm trying to make the smartest move financially. I'd really appreciate any insights or suggestions from those who've navigated a similar situation.