After renting out my guest house for $2000/mo, how am I supposed to come up with the other $400 for my monthly mortgage payments? Really in a bind here. My parents send me $2000/mo for general spending, but I don't want to spend all that (saving up for a new BMW 🚗🚗). Should I raise their rents? Or should I switch to Air B&B?
Thx! Love you guys
Edit: I worked hard to get this place! My grandma died and left a paltry $300,000 inheritance for me. I spend half of that on the down payment for this home in an up and coming neighborhood. It's still pretty slummy here, but new people are moving in all the time and soon I'll feel safe going outside! Just figured I'd give some background for the haters saying I'm lazy 😎
After renting out my guest house for $2000/mo, how am I supposed to come up with the other $400 for my monthly mortgage payments? Really in a bind here. My parents send me $2000/mo for general spending, but I don't want to spend all that (saving up for a new BMW 🚗🚗). Should I raise their rents? Or should I switch to Air B&B?
Thx! Love you guys
Edit: I worked hard to get this place! My grandma died and left a paltry $300,000 inheritance for me. I spend half of that on the down payment for this home in an up and coming neighborhood. It's still pretty slummy here, but new people are moving in all the time and soon I'll feel safe going outside! Just figured I'd give some background for the haters saying I'm lazy 😎