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All Forum Posts by: Brenden Sperl

Brenden Sperl has started 1 posts and replied 2 times.

House Hacking

Post: Should I do a heloc to create a rental in my basement?

Brenden SperlPosted
  • Posts 2
  • Votes 0

@Greg Kasmer- I would live in the upstairs of the house and create 2 units downstairs. Hoping that each of them produce $1500 in rent, I’d like to get $3,000 total which would be enough to cover my mortgage. 

0 Votes
Saint Paul, Minnesota
House Hacking

Post: Should I do a heloc to create a rental in my basement?

Brenden SperlPosted
  • Posts 2
  • Votes 0

My monthly payment for my house with utilities is around $3000 because of interest rates. I could get around 50k through a heloc and renovate my basement into a two bedroom one bath apartment, hopefully getting $1500 a peice in rent to cover my mortgage. Is this a good idea? Or should I be looking for better deals that will cash flow more. 

0 Votes
Saint Paul, Minnesota