Updated about 2 years ago on . Most recent reply
MTR for a house
Currently own a 1 bedroom in Denver area thats an MTR and been cash flowing pretty good and just bought a house last year with doing 2-1 buydown (4 bed, 3 bath, 2400sq ft of livable space, 3200 total). Instead of selling the house (location is Arvada btw) thinking of turning it into MTR, no repairs needed on the house outside of backyard is kind of a jungle and needs landscaping work. There is a house nearby that i was able to see on FF that is going for a decent price per month. Based on peoples experiences in MTR in Denver area, is it a good idea to turn a house into MTR, especially of such size? Do those get rented often? Right now we require two incomes in order to afford the mortgage and looking to downgrade/rent for a while and be a single income household so wouldnt be able to pay the mortgage for the house unless its being consistently rented on FF. The rent would need to be higher than 4k