OWNER OCCUPIED. ITS A BEAUTIFUL THING!!
Buying a 2-family or multi-family home is a great idea for the first time homeowner. As an owner occupied home owner you enjoy the benefit of a LOWER COST OF LIVING because your tenant PAYS YOU. You can benefit from additional payments to your mortgage or save for repairs as needed. The biggest benefit for you is that your living at the property is another way of protecting your investment. You are always around to make sure the home is kept in good repair and you are much more likely to keep the property neat and tidy.
Imagine buying a 4-Unit home for $69,900 and living in one unit. If you financed the entire amount at 5% and had a property tax of $6,300 your monthly mortgage would be approximately $901 monthly. Then estimate rent the for other 3 apartments for an average $400 monthly for 75% of the year, (just in case you have a vacancy). With this very conservative estimate your estimated gross income would be over $10,000 for the year. That would mean an estimated net income of $4,500 after property tax. Your living expense would be approximately $525 monthly. WHERE CAN YOU OWN A HOME FOR THAT? Call me at (518) 465-8091 today. I have just the opportunity for you!
If you are selling or buying a home call or text me, JEFFREY HORN today at (518)465-8091. I will help you through this sales process. Jeffrey.Horn@ColdwellBankerPrime.com
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