A Perfect Home To Consider

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291
https://activerain.com/droplet/5jtq

 

A perfect home to consider.

This is an idea I got from Barbara Todaro's  comment on my last post. 

 Forty years ago,  Barbara had a three family home listed and sold it to 3 young couples all of whom wanted home ownership but none could do it individually. That three family home got them into the real estate game, and they sold three years later with money for a down payment on three individual dwellings. 

 

Margaret Rome 3 family home

 

Three levels, three kitchens Baltimore County Rancher

 

This property is an excellent opportunity for so many today who may not be able to buy a home alone. But by combining incomes, purchasing together would be able to have a chance to get equity in real estate, save on rent, and live in a multifamily home for a short time — a great way to get into the real estate game.

Another way to look at this property: One family buys and then rents the other two units again saving rent and using the income to pay off the mortgage. 

This is an excellent opportunity for first-time buyers, those looking to right size, and for multi-generational lifestyles. This could also work for investment for parents of college and professional school kids. Purchase when the student starts the program, whether four years or more. The young person lives in the house and rents the other spaces. Not only would this pay the mortgage, no dorm fees and the ability to sell at the end of college, med school, law school, etc.

Do you have college-aged kids?

Do you want to own your own home? Do you want to stop paying rent? Do you want to get some equity built up in real estate?

This may be the perfect home to consider.

 

Margaret Rome

 

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Topic:
ActiveRain Community
Location:
Maryland Baltimore County Pikesville
Tags:
homerome
21208
income producing home
650 military ave
owning a home with rental income
house for students

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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Margaret. A tremendous alternative to dorm life for those with the forethought to save the downpayment. Thanks! Enjoy your day.

May 23, 2019 05:03 AM #1
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