3 ms·
Duplexes sell fairly frequently. For mine, the rent of each unit is greater than the mortgage... As a note, though, home ownership (esp. rental ownership) is
by dmv 18y ago
Duplexes sell fairly frequently. For mine, the rent of each unit is greater than the mortgage...
As a note, though, home ownership (esp. rental ownership) is more expensive than just the mortgage (and taxes, and utilities). Like any business, there is time and attention required. Like any other depreciating asset, there is also ongoing maintenance costs. And they are not smooth like the income stream. If your rent is $1000 and your monthly payment (mortgage + escrow) is $800, you may be netting $200/mo. Great! But then you have to scramble to find the $10k to replace the roof. Or it takes two months to replace the tenants (there goes 8 months' profits). In the long term, it should work out. Your mortgage + tax payments should increase slower than the monthly rent payment. But renting out a house is not free money.
- nazgulnarsil 18y agoas close to free money as you can get without lucking out I would say. Of course it requires attention and time but it beats pissing money away on rent, especially in silicon valley where rents are more than twice as much as the national average.