New member from St. Paul, Minnesota
Hi all,
as the title post indicates, I'm a new member from the Twin Cities. I've been interested in real estate for quite awhile but up to this point my experience has been limited to owning my current house. Thankfully I bought it after the market "corrected" (and got the tax rebate to go along with it) but seeing how much money is going out the door every month on my mortgage I've started thinking that it might be wiser to research and follow a new plan. In short, I'm considering either selling my current house or renting it out if the math dictates that as the better path, and looking into finding a multifamily (2-4 unit) building where I could live as an owner/occupier.
My hope (and I'm cautiously optimistic that I'm not totally unreasonable) is that I'm able to find a building in a decent neighborhood where the mortgage is covered by the other units while still following the helpful rules/screening tools I've been learning about on this site to analyze what deals make sense at what numbers. If all goes well, I'd also be interested in finding rental properties in the twin cities area.
Thanks and I look forward to continuing to learn more and meet people from all over.