Realestate investment.

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Anonymous
Realestate investment. 2017-06-12 05:28:42 Post No. 2412023
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Realestate investment. Anonymous 2017-06-12 05:28:42 Post No. 2412023 [Report]

My wife and I are about the purchase a duplex. The place is in great shape and doesn't need much work, plan on putting in floating wood laminate because of increased value and convenience for rental property. We plan on living on one side and renting out the other.
We are fine with this, we currently live in a duplex.

How fucked is this idea? The rent on the other side is currently $800, though rent is raising fast. 30yr mortgage. My total mortgage+ tax/ insurance is about $1200.

How good of an idea is this for the long-term?

Anonymous 2017-06-12 05:32:44 Post No.2412108
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Anonymous 2017-06-12 05:32:44 Post No.2412108 [Report]

I would go for it. Real estate is always the right way to go.

Anonymous 2017-06-12 05:35:58 Post No.2412179
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Anonymous 2017-06-12 05:35:58 Post No.2412179 [Report]

>>2412023

Depends on where you live. For example, California is a landlord's nightmare.

Anonymous 2017-06-12 05:37:26 Post No.2412203
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Anonymous 2017-06-12 05:37:26 Post No.2412203 [Report]

Sounds great!
Might I suggest though, that if you love your life - you goddamn make sure to clear the mortgage ASAP to set yourselves free from the bank's interest payments.

Google it, if you don't know what I mean.

Anonymous 2017-06-12 05:37:29 Post No.2412207
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Anonymous 2017-06-12 05:37:29 Post No.2412207 [Report]

>>2412108
ya, it seems like cryptocurrency volatile. stocks are hit and miss.

Plus, if we move out, the place pays for itself. rent out both sides and make $1600, then after mortgage, taxes, ect. I got $400 bucks. of course part of that would go into a maintenance fund. I just don't see how it will hurt us in the long run.

Even if we have to move in a few years, it doesn't harm us by having a mortgage in another town.

Oh, I should mention, this duplex is in a growing college town.

Anonymous 2017-06-12 05:39:16 Post No.2412252
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Anonymous 2017-06-12 05:39:16 Post No.2412252 [Report]

>>2412207
>growing college town
That's also very good

Anonymous 2017-06-12 05:40:26 Post No.2412277
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Anonymous 2017-06-12 05:40:26 Post No.2412277 [Report]

>>2412179
I'm in Texas. The laws here seem to favor land lords.

Anonymous 2017-06-12 06:06:16 Post No.2412765
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Anonymous 2017-06-12 06:06:16 Post No.2412765 [Report]

>>2412277

Yeah, I've lived in Texas. You should be fine. This could work out well. When you are ready to move up, hold on to it and rent out both halves.

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I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/