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Updated about 12 years ago on . Most recent reply

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2,122
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915
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
915
Votes |
2,122
Posts

2 family rental, need opinion

Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Posted

I am looking to purhase a 2 family home half of which is currently rented out. I am told the renters enjoy their spot and would like to stay. The second no rented spot is out dated and will ne renovations. This property is a short sale. If i were to purchase it i could live there and have close to 3/4 the mortgage paid for by the current renters. 1.In your opinion do you think this is a smart situation for a first time RE investor? 2. Are multi family homes recommendable for someone first starting to invest in rentals or is it a big jump? 3. If this is a good investment would it be in my best interest to live on site and pay cheap mortgage or try to rent out second half and pay house off way faster?

  • Shawn Mcenteer
  • 9739753895
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House Hacking New Jersey
5.0 stars
47 Reviews

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