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Updated almost 2 years ago,

User Stats

40
Posts
13
Votes
Michael Oliver
  • New to Real Estate
  • Michigan
13
Votes |
40
Posts

Somebody push me off the damn cliff already!

Michael Oliver
  • New to Real Estate
  • Michigan
Posted

Ok so here's my scenario.

1. My 9-5 could be here today and gone tomorrow.  Very unstable. I make about 4k take home a month.

2. I currently co own a property with some friends of mine where I used my VA loan. Due to hard times and me needing to move back to the area, I now have to live in it when it was doing well as a short term vacation rental. I pay 800 bucks a month on that. Total is $2300 roughly for the mortgage.

3. I know that if I get out of this house, it would generate revenue to cover the mortgage.  But I need a place to go.  I have roughly 12k in saving that I could use.  My problem is instability at work for payment and I am in a semi small city (Traverse City, Michigan) where I am unsure of how much our place would rent for or if it would even rent due to the size of the city.  

Would love some insight here.. Very ready to pull the trigger if it makes sense.  I would love to house hack, but would need to be a back area sort of situation as I have a small dog and my GF has a large dog.

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