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  DO NOT BUY A LIABILITY   BUY AN ASSET 
  Before burdening yourself with the mortgage payment of a single family home or condominium, give me a chance to explain the positive side of, and benefits of 2 family owner occupancy.
  First off you can buy a 2 family home in the same price range of a single family home or condominium. The difference is that lenders will consider up to 75% of fair market rent added to your income from the other unit of a 2 family to help you get financial approval as long as you will occupy one unit.
 Why not collect rent instead of paying rent? You will have something to show for it when you collect rent.
  After the fall out of the Real Estate market in the mid 2000's, lending policies have become more strict. Many people need the extra help an income producing rental unit will provide. If you are a first time home buyer or a veteran of the military, lenders have special programs for both that can make the purchase of a 2 unit property even more lucrative for you. If you fit into either of these categories, call a bank or mortgage company today and ask what programs they have for 2 family owner occupants.
   Duplex homes can be found in many desirable areas if you are focused on a specific neighborhood that you like.    
  People say they don't want to be a "landlord" because they believe that all tenants are non-payers, loud, messy, rude and the cause of most headaches associated with 2 family living. This is not totally true. Sometimes if a "bad" tenant is allowed into a unit, they will cause problems for the owners. But carefully selected and thoroughly screened tenants can be anything but a problem. A good tenant is the life blood of 2 family living. They provide income every month which will be used by you to pay the mortgage and in turn allows you to keep more of your own money to put towards your needs. Only good tenants should be allowed to move into your rental unit. You can easily do a credit check, previous landlord verification, a criminal background check, income verification, and personal meeting with potential tenants to be sure you are getting a quality tenant and if they don't meet your criteria, you will move on and continue to advertise the unit for rent.
  An owner occupant can be more selective in choosing a tenant than the non owner occupant. Individuals who own and occupy a duplex property have discretion about who may occupy their rental unit and be exempt from some Massachusetts fair housing laws.
 The owner occupier cannot discriminate against anyone but can be more selective of tenants by filling vacancies themselves which is relatively easy when the correct steps are followed.
  The monthly mortgage payment of a single family home or condominium will be more for you to come out of pocket for because with rental income from your other unit, some, or maybe all of your mortgage payment will be paid for with someone else's money. It's a great feeling when you are sending in your payment and the rent collected from your tenant covers your entire monthly payment which leaves you with more of your hard earned money that you can put towards other debt, save for the future, or just go out and have fun with.
  If down the road you decide to move on from your duplex home, you can do a cash-out refinance and then buy your next home and rent out both units. Or you can sell it outright and get a windfall of cash because your carefully selected, prized tenants will have helped you gain lots of equity during the time you owned it by providing rental payments which will have been paying down the total balance of your mortgage during those years.
  If you are still leery and need more information about 2 family owner occupancy, give us a call or fill out the contact information form below and we will guide you through the steps, provide you with more valuable tips, and get you on your way to buying your 2 family home. Now you will set yourself up for a financially comfortable future.

     Thank You and best of luck 

Barry Skellett  
Boston Acquisitions
Phone: 781-964-3278
Email: barry@bostonacquisitions.com
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