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re: Multi-Family Housing Is A Viable Yet Overlooked Path For Home Ownership
Posted on 3/5/24 at 12:41 pm to sidewalkside
Posted on 3/5/24 at 12:41 pm to sidewalkside
quote:
Multi-Family Housing Is A Viable Yet Overlooked Path For Home Ownership
guy down the street did this, 10 years ago, he bought a 4 BR house and moved into the garage, while he rented out the 4 BR and he paid the 15 year house note off, with just their rent money, and now he has a fully paid for house, without using any of his own money to pay for it.
he has now moved out of garage and back into the house and still rents out 2 of the BR and he does mechanic work in the garage to make extra money. he often has no less than 6-8 trucks parked in his yard waiting to be worked on.
1
Posted on 3/5/24 at 1:01 pm to keakar
When we lived in the French Quarter, I had met a man who owned a huge number of rental units there. He was well known for being rich and dressing poor.
I was at city hall one day checking on ownership of a lot that was going to be auctioned. He and his wife were there checking on a different property. He introduced me to his wife AND lawyer. I said "well, that's convenient". they both laughed and she said that several years earlier they realized their lawyer bills were too high and it would be cheaper for her to go to law school up town that to continue to hire lawyers. So she did, and it was one of the best decisions they had ever made.
I was at city hall one day checking on ownership of a lot that was going to be auctioned. He and his wife were there checking on a different property. He introduced me to his wife AND lawyer. I said "well, that's convenient". they both laughed and she said that several years earlier they realized their lawyer bills were too high and it would be cheaper for her to go to law school up town that to continue to hire lawyers. So she did, and it was one of the best decisions they had ever made.
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