All Forum Posts by: Ethan Mitchell

Thanks Jake! Sorry... forgot to disclose that while the median house is 465... I'd be looking more in the 335-365 range! Appreciate the response.

Hello, 

Just started out listening to Bigger Pockets podcasts and looking into real estate investing. 

My wife and I are in our mid twenties in a suburb of Seattle making a combined 90,000 dollars and we have no debt. 

The median household where we live is 465,000. 

I was wondering if it would be wise (or stupid) to purchase a home with little down (5% or 10%), live in it for 12 months (avoid mortgage fraud) and then rent it out while living in a cheap mother in law apartment. 

I'm guessing the mortgage would be around 1900 - 2000$ while rent could be anywhere from 1600 to 1700$. 

I'm assuming it's a dumb idea to buy a property and not be profitable but was curious for input. 

In my head, someone else would be paying the majority of my mortgage while I'm paying super cheap rent and could cover rent/mortgage in case of an emergency.