Me (26) and my mother (58) are looking to buy a rental/summer lake house listed at $635,000. Together we only have about $40k on hand. I make about $60k currently, and her just over six figures. I estimate in the summer we can rent for minimum $2000/per week. it is a popular lake for renters, ie several other families and mine have been renting there for 20 years. Is a mortgage feasible for us in the market today? Is this seen as a “good” investment? What should I know before getting into something such as this?
Read more at https://www.reddit.com/r/RealEstate/comments/1dimlgr/looking_to_buy_a_investmentsummer_home/?utm_source=ifttt
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