I made a post several months back asking for advice on this. I was seriously considering purchasing a triplex, (3 homes on one property) I wanted to live in one home, and rent out the other 2 to offset my mortgage payments. This reddit was strongly urging me to NOT do it. That it would be disaster being a landlord and living on the property.
I went against the popular vote, and went through with it anyway. It’s now been 6 months. I must say that it was the best decision I’ve ever made. After carefully and meticulously screening for quality tenants, setting up a savings account for repairs, and making the right preparations, things are really great. I know it’s too early to tell, but I feel I’m prepared for whatever happens. We have a good emergency fund, along with a savings account for repairs if needed. Our total rental income is about 1600 per month. My mortgage payment is 1800. So we are able to throw a lot of money into savings. We make about 80k pretax combined income.
Just wanted to update you guys. If you’re thinking about making the plunge, its a great one.. for me at least. Very happy with results.
Submitted November 13, 2017 at 08:52AM by whoreeyes17 http://ift.tt/2zCYjlA
