Buy a house with a rental unit and subsidize your mortgage
From Associated Press: Apartment rents stable across U.S.
In the San Francisco Bay area, with one of the highest housing prices in the country, average rents for the third quarter were $1,637, or 1.2 percent higher than the $1,618 they cost per month in the second quarter.
In the Riverside-San Bernardino area of southern California, which has one of the highest foreclosure rates in the country, rents were $1,157 in the third quarter, slightly down from $1,162 in the second.
We’ve helped many clients buy real estate in the Washington, DC, area with in-law suites or English basements. They then apply the rent they make from that apartment to offsetting part of their mortgage payment.
Municipalities have different regulations regarding rental units though. But if you decide to take this investment-minded approach to buying a home, Brandon Green Companies is happy to provide you with guidance.
(Via The Housing Chronicles)
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