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Updated over 2 years ago on . Most recent reply

Account Closed
  • New to Real Estate
  • Grants NM
2
Votes |
8
Posts

Investing Off Disability

Account Closed
  • New to Real Estate
  • Grants NM
Posted

Looking for a potential partnership to get the ball rolling on my path towards getting off disability with rentals. Disability said that if I am recieving passive income via rentals, it won't affect my supplimental income. I'd lose my $300 a month but not my $500. This gives me an opportunity to use rentals to invest my way off of disability. If I use an FHA loan with 20% down on a duplex, I could rent out my currently occupied home for more than the mortgage payment of the duplex. I'd live in one unit for 12 months and recieve rent from one unit. After 12 months I'd move back to my current home and rent out the second unit. Unless there are better options out there?

Most Popular Reply

Account Closed
  • New to Real Estate
  • Grants NM
2
Votes |
8
Posts
Account Closed
  • New to Real Estate
  • Grants NM
Replied
Quote from @Kevin Sobilo:

@Account Closed, Im sure your thinking make sense in a perfect world, but the question is are you prepared for things to go sideways. Will you be able to handle nightmare tenant scenarios of damage and evictions?

Make sure to factor worst case scenarios into your planning along with the best case scenarios. 

I've delt with nightmare tenants in a cabin my dad is renting out. I'm his property manager. I know the risks and how to mitigate them. I'm confident in my ability to deal with issues as they come up. :)

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