Big HOA’s for Biden effort going on. Wait, don’t give them any ideas…The HOA's
Big HOA’s for Biden effort going on. Wait, don’t give them any ideas…The HOA's
I find it hilarious that there is little or no acknowledgment of the loss of property value bad neighbors can inflict on those invested in a neighborhood.I find it, hilarious, that the same people who rail about freedom are the ones who actually pay to subject themselves to a governing body to control themselves and their neighbors.
I don’t obsess about made up numbers regarding “value.” The value of where I live is determined by it’s worth as a home, not as a house. None of it matters anyway unless you’re buying it, selling it or borrowing against it.I find it hilarious that there is little or no acknowledgment of the loss of property value bad neighbors can inflict on those invested in a neighborhood.
For those that don’t own a home and prospects seem dim, this 5% down for multi family owner occupied could be the answer for you.
It’s called house hacking.
It used to cost 25% down to buy a 2-4 unit multi family house/apartment.
But now you could buy a duplex for 5% down, rent out the second door to someone else and have the 2nd tenant pay most or all of your mortgage.
Tons of duplexes for sale in the $200-$300k range in Indy.
Live there for a year, rinse and repeat.
When you move out, you place another tenant in the duplex.
Now you’re cash flow positive.
After 10 years, you could own 10 duplexes with 20 tenants who are paying down your mortgage.
Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes
Discover how Fannie Mae's groundbreaking policy change in multifamily financing is empowering mortgage borrowers.themortgagereports.com
You can hire people to do that for you.Ah yes, owning rental properties. The quickest and easiest way to take on a second full-time job without even realizing it.
Screening applicants; showing the place to prospective tenants; answering maintenance calls at all hours of the day and night; making repairs and upgrades after tenants move out; suing former tenants that skip out on the lease, slow pay, won't leave, or do excessive damage; etc etc etc.
All the joys of home-ownership (taxes, insurance, upkeep, maintenance, worry, hassle, and headaches) with the added benefit of dealing with useless strangers! Huzzah! And I have to imagine it's 10x worse when your tenant lives next door and shares a wall, floor, or ceiling.
No thanks!
So now you've also got employees at your second job who you're paying and trusting to do all of those other things up to your standards. That's not really a solution, just a different set of headaches and potential problems. Again, pass.You can hire people to do that for you.
Yeah they’ll take 10%, but then everything you mentioned is taken care of.
My older brother and I have a few. about 7-8 years ago we decided to turn all but one over to a Property Management Co to do all the work. It was a good decision for us.I can think of no greater hell than being a landlord.