3 ms·
FHA 3.5% for the win. I went from paying $1300 in rent for one unit in a duplex to paying $1800 in mortgage/insurance/taxes for the entire duplex, and I get to
by douche 11y ago
FHA 3.5% for the win. I went from paying $1300 in rent for one unit in a duplex to paying $1800 in mortgage/insurance/taxes for the entire duplex, and I get to charge the $1300 for the other unit. It's a no-brainer.
- iheartmemcache 11y agoMy buddies in middle-America were capitalizing heavily off of both the FHA and the incredibly low interest rates circa 2011 (thanks artificially depressing the dollar, Fed!). They started out with a handsome amount of capital and borrowed against their 401(k) [I don't recommend this] to speculate on the rise of land [I also don't recommend this], threw down 20% to avoid PMI [I do recommend this, if you can afford it] and started renting out properties. They essentially speculated on gentrification, got lucky, and pay a management company to maintain their properties so they don't even deal with their tenants. Their bi-monthly involvement is limited to reconciling their accounts for 20 minutes and a five minute phone-call to resolve any potential outstanding issues with the management company.
- pc86 11y agoWhat does the FHA have to do with anything if they were putting 20% down payments on the properties?