All Forum Posts by: K.C. Marsh

Thanks for the response. They've been great roommates for as long as I've known them and I know they are financially stable. Hard to find better tenants in my opinion. 

Yes, I would be living there as well so I'd be paying my share of rent and they'd pay the same as they currently do. Since they'd be paying the mortgage, my rent money would just go into savings. I'm planning on putting down 20% and getting a traditional mortgage. 

I would like to keep my financials separate from my own but I honestly haven't put much thought into it. 

Hello, everybody. I am a beginner as many of us are on BP and I am interested in making my first purchase next year. I was curious to get peoples thoughts on my current idea. For the last couple of years I've been renting a 3 bedroom house with 2 others and it's time to break the cycle. Although it's been a while since the owner has mentioned it, he said that he may be willing to sell in the future. If this is a possibility, it would certainly be the most convenient way to start out, especially since I have a lot of stuff, lol. My current roommates would remain and they wouldn't notice any change. 

Living there for the time that I have, I know that there aren't any major problems and he's updated several aspects of it as well. I'm not looking to make a fortune off of it, as long as I get it below market value. It would be a great way to gain some equity and save for a second house. That being said, what would you all do in my position? How close to market value would be worth it since I'm mainly interested in cash flow? I know without numbers it's rather difficult to say, but I'm just looking for ideas. Are there any major risks that I haven't though of? I'm trying to do a bit of homework before I sit down with them.

I appreciate everyone's time and I'm glad to be part of this group. Hopefully, I join the status of investor in the near future. Cheers.