I'm thinking of purchasing a property here in Houston Texas. Thea area is hot because it's close to downtown inside the loop.
The home is 230k. It has 3 fully renovated homes on it. Each home has its own bedrooms, bathrooms, kitchens and each home is completely separated from one another. The lot is 6500 sq ft.
The main home I will be living in, and renting out the other 2 in the yard. I've never been a landlord and worry about that. However each rental is complete brand new with new ac units, hot water heaters etc
Mortgage would be about $1600.00 or so. I'm thinking of renting the two homes out and using it to completely pay my mortgage.
My wife and I make about 80k together combined. And we have about 20k in savings account. We are purchasing this one with zero down. NO PMI and 4.5 % for 30 years.
Is there anything wrong with this plan???
Submitted January 24, 2017 at 09:33AM by spacecitygroover http://ift.tt/2jNnDvd
