Today I’m near downtown LA to show you an amazing property.
I recently visited with a real estate friend of mine who told me all about this new listing he had. “Scott, you’re literally minutes from USC, St. Mary’s University, and everything that people want to be close to,” he said.Verify your mortgage eligibility (Apr 14th, 2021)
“The rents you collect from the units you don’t live in allow you to live in the home virtually for free!”
What makes this property special, though, is that it’s a three-unit stand-alone single-family home. You can live in this four-bedroom home for free because there’s a separate rental unit at the back of the property that allows you to enter from a parallel street one block over. The single-family home, meanwhile, has its own separate gated entry.
If that’s not enough, the numbers (which we had fun playing with) are absolutely incredible. I discovered that although this property is listed at just under $1 million, if you purchase it with a 20% down payment, the rents you collect from the units you don’t live in allow you to live in the home virtually for free! The cost to carry is $4,440, the rents collectible in the main home amount to about $3,500, and the houses behind rent for $2,200 each.
You can see how easy it would be to live in one of the properties in the back while renting the main home (along with a separate rental) and do so free of any mortgage payment. The rents collected would be enough to cover all of the carrying costs. I got excited earlier in the year when I found a property that allowed the owner to live in LA for less than $100 per month, but this one lets you do it for free.
If you’d like to know more about this property or want to take advantage of this opportunity, call or email me right away. Talk to you soon!Show me today's rates (Apr 14th, 2021)