All Forum Posts by: Michael A.

I am looking at roughly a 350,000 home with 20% down. And rent for one of the apartments can bring in around 1800 dollars.

With a mortgage of roughly 280,000 its pretty close to be able to get to a point where one of the units cover the mortgage.

If i feel confident that the rent from the 2nd part of the house can cover my entire mortgage payment, would that be a good sign of a decent investment... i would then expect around 1500 a month in additional costs but of course i would be able to be living there.

Are there any special things to consider when looking at a property for both your primary residence and also to rent out the other half of the house?

I know that all the mortgage interest is still completely deductible.. and I would assume that I could write off 1/2 of the depreciation of the house. Would only half of the expenses/upkeep be deductible?

Any good rules or strategies to follow when looking at an investment property for both primary residence and also half rental would be really appreciated.

Thanks!

I was curious if anyone can help shed some light on a few scenarios that I am currently considering.

There is a great 2 family home opportunity but the issue is coming up with the 20% down payment.

Will a bank even consider a business proposal to try to get a small business loan to cover the entire cost of the house.. We can show that the rent will provide a small positive cash flow, and the house will appreciate due to work being put in to the house.

Or is it more common to get a loan for just the down payment amount and then get a mortgage to cover the rest of the house?

Thanks!