In the last 10 years, the amount of money that has flowed through your bank account, how much did you make?What if I could show you a skill that could teach you how to multiply your money ?
Okay this solution works simply for single people and someone who lives alone! It’s not home when you got some stranger wandering around
No upfront money... how to buy it ? Bank normally evaluates the house ~80% of selling price and lends 70% of that... which means they lends 50% and the rest 50% cash should be available. Can't even use credit card as bank evaluate our ability of making monthly payment.
This is often referred to as rent vesting or house hacking. At least in Australia! ✅✅✅
I do this exact thing NOW and have been for 3 years. I started this when I had no job and no steady income. For any others looking to do this, I'd recommend NOT renting out to friends cuz their priority may be friendship and yours is probably money. Draw up a rental agreement (or Google one, of course) that spells everything out. Be firm! Realize that it's not their house so don't expect them to care for it like you do. Budget for repairs and upkeep and wrap that up in the monthly rent. Conduct background checks and get references from recent landlords, etc. Also, how will they pay you - cash, check, electronically, etc.? Put all that in the agreement. Treat it like a business. If you treat it like a hobby, you'll get paid like a hobby. If you treat it like a business, you'll get paid like a business. And don't forget to market it, too. It may sound like a lot, but putting in the work on the front end and getting into a rhythm will save you a lot down the road. If you need a sample agreement or other advice, DM me. I'll send you a draft or help out in any other way.