Feel free to reach out and we can chat about private lending.

Why pay off the mortgage early? 

My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.

Now we are mostly scaling our business with larger communities but I've used many different creative finance strategies including seller finance, private lending, hard-money, collateral from other properties, and lease-options. 

Well if I were to buy a townhome/condo looking at the comparable around the area it could probably only go for about $3200 meanwhile my mortgage would be about $5600.

Becoming a LandlordYour house appreciating at 5% annually = $25K/year.Your parents' larger house = $30K/year.Financing the PlanTake out a mortgage on your house to buy your parents' house.If their mortgage rate is lower than today’s rates (6.75%), keep their mortgage and assume it.Why It WorksYour tenants pay the mortgage—not you.Each monthly payment includes ~$300 toward the principal.

Given my circumstances, asking any of their family members to co-sign on a mortgage loan feels like a tough ask, as I wouldn’t want to place that kind of pressure on someone.

Mortgage payment is approx $1800.

MUCHHHH better and of course that leaves us with plenty of room to pay the mortgage payment so the lender is happy.Btw, I just wrote the Co-Living book for BP that comes out in Spring, you can sign up for it here!

Does your mortgage include your property tax payments?