neighbors wanted
Feb. 16th, 2006 10:30 amPerusing more real estate listings. There are a handful of decent 2-home options for cheap. A couple are duplexes with a shared wall, A couple are two little houses on the same lot. Most are 2 - 2br units that appear to be in good shape and are around 700 sq ft. each (give or take a bit). These are in the low to mid $600Ks (total for both units).
I'm thinking that if someone wanted to be my neighbor and could either a) pay half and own their unit, b) pay 1/4-1/3 and part own their unit, or c) lease one at reasonable market rent and be prepared to tell my lending company that -- it's doable.
If you help buy, you get: Your own cute 2 bedroom house, for the price of a condo or less, no HOA saying you can't put in a cat door! Part ownership of actual LAND, not just the structure on it. You can rent it out when you're ready to move somewhere else. If you haven't done the after tax numbers, you might be surprised what a bargain this is!
If you want to rent, you get a cute house for a decent rent and a landlord that's not a slumlord.
I'm thinking that if someone wanted to be my neighbor and could either a) pay half and own their unit, b) pay 1/4-1/3 and part own their unit, or c) lease one at reasonable market rent and be prepared to tell my lending company that -- it's doable.
If you help buy, you get: Your own cute 2 bedroom house, for the price of a condo or less, no HOA saying you can't put in a cat door! Part ownership of actual LAND, not just the structure on it. You can rent it out when you're ready to move somewhere else. If you haven't done the after tax numbers, you might be surprised what a bargain this is!
If you want to rent, you get a cute house for a decent rent and a landlord that's not a slumlord.