Quote:
Originally Posted by Incinerator
Or if you don't have any yet, you can take out a HELOC on your extra equity and buy some inner-city rentals  |
Exactly what I did. The bank somehow arranged it so my original mortgage payments are the same, and I'm renting out my investment property for enough to cover my mortgage and some expenses.
Within a year I'll do some upgrades and dump it, and hopefully buy some land outside of town to sit on until I have enough equity in my original house to sell out and move.