buyahomeofyourown

I bought my first home in Hillsboro Oregon as an owner-occupied duplex.

I used a low to moderate income homebuyer program. My wife and I have earned over $80,000.00 in appreciation in 3 years. The duplex was easy to qualify for because we could use the rented side rental income to help us qualify for the loan. We only had to qualify for a $445 payment. That was cheaper than rent. We were paying $975 in rent before we bought our duplex. Our lender allowed us to use the rent on the occupied rental side to qualify for the mortgage.  The loan we got was 100% financing and we negotiated a little higher purchase price and had the seller pay closing costs. We got into that duplex for about $1500 total down and closing costs.  That’s a huge return on our investment. Put in $1500 and earn over $80,000. Try that on the stock market. I love this country. We lived in the duplex for about 1.5 years and saved enough money to do it again. We bought our second duplex as an owner-occupied rental using the tennants rent to help us qualify and pay for the home. We have been there for almost 2 years now. So, now we have 2 duplex properties. The first one we bought pays for itself on a monthly basis, although with renter turn over we do incur expenses that come out of pocket, expenses we can afford because our house payment is very low. And the Second duplex monthly payments are over half paid for by our tenants. On both properties we have made over $150,000 in appreciation in 3 years.  That’s a great plan to Start late and finish Rich as David Bach the bestselling author says. I have an unfair advantage being in the mortgage business, but hey why not profit from knowledge. If you’d like to profit from my knowleged too, just let me know. I am Tim and I do creative finaincing mortgage’s . contact me at tim@nwlendersdirect.com

buy for now. yes, that’s a pun not a type-o.

Real estate can make you rich!

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