So, you’re starting a business? What could go wrong? Everything. It’s Murphy’s Law, so let’s prepare for the worst.
A great way to reduce your cost of living is by owning your own home and renting out the rooms. Not only does it dramatically increase your credit score which will help you gain financing for automobiles, rental properties and business loans, it can also be leveraged for additional income opportunities. While renting rooms out of your house isn’t for everyone, it takes a certain personality, but so does entrepreneurship. If you aren’t patience, kind and willing to do whatever it takes to get the job done then this may not be the best option for you. However, if you don’t mind cleaning up after people, standing your ground, unclogging toilets and dealing with the chaos of roommates you could find your self in a good situation.
Let’s look at the numbers. We’ll start off by looking at rental prices in Charlotte, NC. Then we can look at the cost to purchase a home and then look at how it could work out.
This is probably the most difficult part of it all. The more stringent you are in the process of roommate selection the better off you will be. It’s best to find like minded people.