Posted by Nate on January 10, 1999 at 13:35:39:
Scott-
Where do you live in OR? I am in Albany and have been trying to find other local investors. Let me know…
Oh, and by the way, I am in the same situation you are with the whole rental thing. I have also been looking at duplexes/multi units to quit renting. I don’t want the expenses of a home right now, so going this route really makes sense…especially when you see how much it will save you.
Good luck, hope to hear from you-
Nate
Getting out of the “Rental Rut” - Posted by Scott (OR)
Posted by Scott (OR) on January 09, 1999 at 22:38:43:
Hi Folks-
Just wanted to put some lines out to get feedback on a topic. Currently, I am working Lonnie deals and working dilligently in that business. However, I am tired of renting an apartment and wondered if it would be wise to buy a duplex, rent out the other side and thus cut the morgage in half. Is this a good idea, or are other alternatives a better option.
Thanks for your comments,
Scott
Another View… - Posted by David S
Posted by David S on January 10, 1999 at 19:52:45:
with that rental market, why not buy a 4-plex and get the entire mortgage paid by your tenants; PITI.
you can also do this using your VA eligibility as long as you live in one of the units for ‘a reasonable length of time.’
David S
Re: Getting out of the “Rental Rut” - Posted by Rob FL
Posted by Rob FL on January 10, 1999 at 14:50:37:
I am doing that right now. I bought a duplex in 1992. The total PITI payment is $843 an month and my tenants pay $550 of that (I pay $293). And I get an enclosed backyard with mine. I have done comparables and where I live is worth about $600 per month easily. I plan on buying my first real home to live in this year and will have $300 or so a month cash flow when I rent my current place out. On top of that there are tax write-offs.
Best wishes.