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http://www.workwithgerry.com – How To Rent Out Your House And Buy Another What a great question. This is exactly how I began my own real estate investment portfolio in 1980. It is a great way to increase your net worth – your wealth. The best advice I got on how to rent out your house and buy another when I started out was to start by getting my house rented out and find a great realtor that would help put me in touch with the right property and the right people to help. You will most likely need a greater down payment than you did when you purchased your principal residence and this can be done thru a private lender or even thru vendor financing. Your real estate agent may know someone who wants to do this or will put you in touch with a trust mortgage broker. The other thing you may want to consider is possibly looking at a multi-unit up to a 4-plex and live in one. Often the rents collected from the other units can cover the entire cost of the mortgage and you’ve got a great head start. Of course, being a landlord does have some work, so if you’re not into doing that a great way to go is hire a property manager. We’ve had many of our properties managed this way and it’s a lot easier even though it does cost a bit. Congratulations on looking into creating a real estate portfolio. This type of income continues even if you’re not working … thru the weekends and on holidays. It’s what my wife and I look for in our investments. As well as our real estate and other investment portfolios we’ve recently started working with a great group of guys online and creating another amazing source of income. It’s been a lot of fun! If you’re looking at different ways to create income you might just be interested in looking at what we’re doing. Click the link at the top of this page and we’ll be happy to send you some info to look at! https://www.youtube.com/watch?v=jYOOiYWbruo
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