Many people have considered renting out one house and living in another. But is managing two mortgage payments stressful? Let’s look at the scenario.
When people make wages, they want cushions. The thought of paying two mortgages equal to their paycheck is terrifying. They rely heavily on a financially solvant tenant to continue maintaining their investment and occupied home.
What they don’t recall is that both assets could be appreciating and they could be capturing unrealized gain. This unrealized gain makes holding these assets worth it, despite the two mortgage payments feeling intimidating to cover.
So the next time you think about paying two mortgage payments, think about how long you will hold your properties and how much they are valued at. Make your assessment about the economy and listen to what the federal reserve has to say. Contact your Realtor and see what their opinion is of the economy. With these ideas in mind, you could be on your way to become a landlord and live in your own place and have appreciating assets in your portfolio.