Re:Ask HN: Passive Income Suggestions?
by gt565k on Thursday August 01, 2019 @03:05PM
(#20587184)
Buy either a larger multi bedroom house or a multi family home with 5% down payment and get roommates.
Charge roommates for rent who mostly cover either all or 50%+ of your mortgage.
Live in it for a year (you have to reside for a year because 5% down gets you owner occupied financing), then buy a 2nd place, move out of the first place, and backfill your bedroom with another tenant.
Repeat every year for 3-5 years, and you'll have 3-5 properties with tenants. if you do it right, you'll cash flow right away.
Charge roommates for rent who mostly cover either all or 50%+ of your mortgage.
Live in it for a year (you have to reside for a year because 5% down gets you owner occupied financing), then buy a 2nd place, move out of the first place, and backfill your bedroom with another tenant.
Repeat every year for 3-5 years, and you'll have 3-5 properties with tenants. if you do it right, you'll cash flow right away.