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Buy Income property in Silver Lake and get help paying your mortgage
If you are currently renting a home or apartment in Silver Lake or Echo Park and are considering buying your first property, does it have to be single family home?   Why not start off with an income property instead of a house and stop throwing money away on rent?  Your landlord has been letting you pay his mortgage, why not let somebody help you pay yours instead?  Qualifying to buy 2 to 4 units is not much different than getting a mortgage for a single family home. PLUS, some of the income generated by the unit(s) you are not occupying yourself can be counted towards your own income to qualify you for a higher purchase price.
Why not make your first Silver Lake home be a duplex or 2 houses on a lot?
My husband and I did exactly that when we bought our first property.   Silver Lake  rentals were commanding great rents (they still do!). Why not buy ourselves a place to live that would also help our bottom line?  So for not much more than we were paying to rent a 1-bedroom apartment in a triplex, we moved into a 2-bedroom unit in our property and rented out the bottom unit  .   ... more

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