What is your starter home goal?

@fatragu (677)
United States
July 8, 2023 8:27am CST
Knowing what you know now, what would be your ideal starter home? Mine is a plex. I'd love a 6plex but a 4plex is fine. I will live in one and rent the others out. I see the benefits and disadvantages to living right next to my renters. Knocking at all hours of the day/night, them feeling like I'm judging them, loud parties, noise. But I am not letting that deter me. A lot of people when they imagine their first home think of a single family home. I have always wanted something with a separate living space I could rent out. Whether it be to one of my kids or to an actual renter, I didn't care. I want something that I can live in that will also generate income. My goal is to live in the plex for 2 years and then buy another one and rent my part of the plex out to a new renter. My goal is to be the landlord that I want to have. The one that doesn't take from your deposit because you had "the nerve" to hang pictures in your home. The one that doesn't take from your deposit when after 2 years the home needs spot painted, the one that sends someone over asap to fix issues and doesn't make you deal with not having a stove for 6 months or refuses to fix the roach issue. I've had both of those things happen to me. I have a great landlord now. My last landlord was the roach landlord and I ended up bringing them to this place. I reached out to my landlord and let him know that I noticed a problem, called Orkin, am on their schedule, and that he is welcome to call them for updates. I also let him know I was paying for it. He had no issues and there was never talks of us having to move. I also let him know that since we are a duplex if the neighbor noticed them to call me ASAP and I'd let Orkin know because they said there was that chance and I'd pay for a year of treatments for the neighbor. I feel that if you are upfront and honest with your landlord and keep them in the loop that there are very few issues over the term of the lease. And that is the landlord that I want to be. The one where you can call at any time if there is an issue. Happy renters stay your renters. Everyone wins. My main goal is to make the rent affordable. I don't care if the going rate in the area is $1,600/ 2 bedroom apt. My goal is to make it affordable to most people. I feel that if you make your product affordable you will never have an issue selling it. Everyone I talk to thinks I'm crazy for wanting to buy a plex instead of a single family home and that's ok. They can think I'm crazy all they want. They don't pay my bills and they aren't co-signing my mortgage loan.
1 person likes this
1 response
@FourWalls (69008)
• United States
8 Jul 23
I had a perfect starter home: 2 bedrooms, 1 bath, detached garage. Bought it for $37,000 in 1989. I’m still living there. So it’s not only a good starter home, it’s a good finishing home!!