“Let Your Tenant Help Pay the Mortgage”
Hey Joe,
My intention is to purchase another two family property next spring and move to that property. I will take care of the management of the property. On the house I currently own, I will redo the First floor and put it on the market, if I get what I feel is a good offer. I will sell it and take the money to purchase a larger property.
Rob
This client started out collecting $1000 per month rent for the second-floor apartment. In the last 5 years the rent has increased $100 per month per year.
The mortgage payment originally started out at $1350 per month and is now about $100 per month higher. For the last two years the tenant has been paying the entire mortgage payment.
The bonus is the property has increased in value nearly $50,000. An outstanding investment for sure.
