Updated over 3 years ago on . Most recent reply
Investing Off Disability
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?
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@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.