Check this out! Here is a great property new to the market. It is located on a street directly facing the Botanical Garden! You can hear the summer concerts from the front porch! Grab a Lime scooter, shoot up Vandeventer, and be in the Grove in a matter of minutes. Walk a few blocks to Union Loafers, Olio, Sasha's, and so much more!
Most first time buyers could not even imagine living in this location as most of the properties are out of their price range. This one is listed at $275,000. It's difficult to even find a decent condo in this neighborhood for under $150,000.
Here's the deal, this is a 2 family property. Each unit has 2 bedrooms, one bath, over 1000 square feet and tons of charm. If you click on the link below, you can see all the pictures and more details about this property. The best part about considering this over buying a single family home is that units in this area are quickly renting for close to $1000 per month. Imagine having an extra $1000 to put toward your mortgage. So, you can see that it would be possible to live in a great neighborhood, be across the street from the Botanical Gardens, build a great investment for your future and live there for much less that you could if you bought a single family home for half the price. Live for roughly $500 a month! (This is just an example and your results may be different based on interest rates, credit history, and down payment amount).
Another great benefit to buying like this is that two family homes are being converted to single family homes all over this area. Maybe in a few years you don't need the rental income anymore and you love the area - then go ahead and convert it!
You may be concerned that having tenants is a real headache and it feels too risky to you? I have several rental properties in this area and I can show you my whole system to attracting great, qualified tenants who pay their rent on time. It's not hard, you just need the right tools - most of which are free!
If this idea is appealing to you, give me a call and we can see about making this approach to home ownership work for you. I also love working with investors who are looking to add rental property to their portfolios. I've learned how to make self managing income property a breeze.
