“We’re trying to buy our first home, but just can’t find anything we can afford in a safe area. Any ideas?”
Here are a few ideas for you:
1. Buy a small, basic, inexpensive condo in an ugly complex.
2. Buy a duplex with friend or family, each living on one side.
3. Buy a duplex with friend or family who wouldn’t live there.
4. Buy a duplex on your own and rent out the other side.
5. Buy a mobile home.
6. Talk with a smart lender to see if it would help to restructure your finances, such as by selling a car with a high payment or consolidating other debt.