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greatlandlordinfo
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| Joined: | Fri Oct 12th, 2007 |
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Posted: Tue Feb 19th, 2008 12:01 pm |
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Hi Arnaud,
Have you considered purchasing a multi-family home such as a duplex or three-family? You could live in one of the units and rent out the other unit(s). Naturally, in this situation you'd have to become a landlady and learn "the tricks of the trade" to maximize your success.
The rental income can really go a long way in offsetting the costs of home ownership. And, the tax writeoffs are phenomenal. If your job is stable, there are some really good real estate bargains out there now because of the subprime mortgage mess. So, if you have the ability to purchase a property, it's a buyer's market for sure.
Being a single mom, make sure that any home you purchase isn't one that needs major repairs or upgrades. Have the property inspected by a reputible home inspection company before buying it. This will let you know its condition up front so you can factor in the cost of repairs and replacements in your offering price to the seller. You don't want a situation where the roof or boiler has to be replaced six months after you buy the property and you didn't account for it in your purchase price, etc.
Lastly, if you decide to buy a multifamily property, it's so important to properly screen your tenants before renting to them. Believe me, this will eliminate a large portion of the problems involved with owning rental property. Having properly screened, qualified tenants is the key that makes the whole property run like a well oiled machine.
I hope I've given you something to think about.
Good luck to you.
John T
http://Great-Landlord-Info.com
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Harmer
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| Joined: | Wed Feb 13th, 2008 |
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Posted: Tue Feb 19th, 2008 10:14 am |
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Hi,
Recently I have bought a house and quite satisfied with this. My friend told me to take help from Real Cheap Real Estate . From their help I really got a good place and don’t have any complains. They specialize in selling discount homes and they also sell real estate notes. Hope it will help you too.
Good Luck!
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Arnaud
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| Joined: | Mon Feb 18th, 2008 |
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Posted: Mon Feb 18th, 2008 01:54 pm |
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I am a single mother working as a teacher and want to purchase a home. But don't think I can afford a home. I am tired of paying rent. Is there a way I can become a homeowner and not pay an outrageous mortgage? Your advice will be greatly appreciated!
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