Submitted by mommy2boy t3_10l3nk4 in RhodeIsland
FAYCSB t1_j5vlmgp wrote
Reply to comment by mommy2boy in WHY ARE HOUSES SO EXPENSIVE by mommy2boy
I bought a 2 family in 2014 for $190k. Renter upstairs paid half the mortgage, so I was able to save a lot more. Had our first kid there. Sold for $250k in 2018 to buy a much bigger, more permanent house. The $60k we made on the sale went a long way towards our down payment.
That house sold again for $400k last year. If you can find an affordable multi-family in good shape, I would definitely recommend it.
Status_Silver_5114 t1_j5vtsl8 wrote
Good shape being the key. Don’t buy a money pit. But a solid house with rental income is a winner to get started for sure.
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