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Updated over 5 years ago,
How to offset my mortgage, taxes, insurance by not househacking?
My fiance and I have house hacked a duplex in the past. It was a high end duplex in a great area and required little to no work. We hardly ever heard our upstairs tenant. Sometimes we forgot we lived in a duplex. I took care of anything that came up as well.
Since then, we have moved out of state and are once again talking about where we should buy or if we should... I mentioned to her that I want to pay $0/m for my living expenses (mortgage, taxes, insurance). I initially suggested getting a fourplex and putting down 3.5% down to cover all of the costs, plus have property management in place. Yet she refuses.
She wants "our own place." I want "our own place" at $0/m.
House hacking and rentals seem to be not be an option for her to offset the cost. Does anyone have alternative ideas to offset this cost? Any other income sources that does not intrude on our lives? My initial thoughts were REITS/Dividends, but that requires a lot out of pocket. A fourplex 3.5% down is the best bang for the buck in my opinion.
This next home is going to be purchased 50/50.