Is there a good way to live in your investment and still have it pay for itself?
Filed Under Home Owners, Investors, Landlords · Tagged: duplex, fourplex, landlord, live and rent, owner, real estate, real estate portland, real estate portland oregon, rental, rental owner, rental owner portland, triplex
Case Scenario:
You are a gainfully employed first time home buyer more interested in investment property than a home. You would like to live in one side of a duplex and rent out the other side.
How should you go about it? Obtain FHA owner-occupied financing, with 3% down, or by using a non owner-occupant, but related, co-borrower. This scenario allows a gift down payment from a relative.
What are the pros and cons of this scenario? Living by your tenant is not always easy. Could be the best way to cash flow in the short term. Live in for 2-5 years, save additional down payment, rent out owner unit and buy another investment property.
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