When I got into real estate, I didn’t realize the power of reducing my biggest expense—housing—while building equity.

Install landscaping that super low maintenance and reduces water usage and looks nice.

I am worried for two reasons: removing the garage will reduce the value of the homes more than the extra unit will add, and the property value will not increase that much with the extra unit(s).

If he’s open to it, that could reduce the upfront capital you’d need while making the process a lot smoother.

Cross-Collateralization – A lender may finance the full $160,000 purchase by using your existing properties as additional security, lowering their risk and possibly reducing your down payment. 5.

As I mentioned, advanced tax planning opportunities are going to be limited so finding a highly specialized CPA is probably unnecessary and going to reduce your pool of otherwise qualified accountants.

With that said, if the property was in West Hartford, I'd probably be willing to reduce my management fee because West Hartford is easier to manage AND the rents are higher.  

You could house hack by purchasing a small multifamily with an FHA or conventional loan, reducing your living expenses while building equity.

However, co-living allows you to acquire properties with as little as 0%-5% down, drastically reducing the amount of cash required.Instead of needing $100K+ to buy a rental, a co-living strategy lets you start with a fraction of the cost while achieving higher returns.3.

If you're just starting out, house hacking a duplex or SFH with an ADU can be a great way to reduce living expenses while building equity.