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Updated about 8 years ago,
New member from KC MO interested in renting section of first home
Hello all! I'm from Kansas City, MO and I'm interested in learning about real estate investing for the purpose of getting some supplemental passive income. I may change my mind down the road, but for now my goal is to have enough supplemental income to cover a mortgage payment so I can essentially be living for "free" (having a tenant cover my mortgage payment).
I've been renting for several years and am now ready to use my nest egg on a downpayment to buy a home. I'm not sure if this is the thread to ask questions, so please let me know if I should post this somewhere else!
Is it realistic to think that I could buy my first home with a separate living area and rent it out to cover my mortgage payment? I'm thinking this would be a duplex or a house with a basement with a separate entrance.
Thanks in advance for any advice or suggestions! Looking forward to interacting on BP!