One of the best things I ever did as a single person was to buy a four-plex. At the time I had completed reading Henry David Throeau's book "Walden" and was trying to find the contemporary equivalent to squatting in the woods. The best I could come up with was to live in a multi-family situation. I had some to invest and was looking at homes in the country but on a whim I bought this new four-plex instead. At the time it did not seem like the frugal path since the price tag was much higher than the shacks I was looking at in the country. I was able to qualify because it was already mostly rented out so its own income contributed to the purchase.
When I moved in I was scared because the payment was so high. I did not know where the money was going to come from every month. Then on the first of the following month something magical happened. Neighbor/tenants knocked at my door and gave me money. I know that seems like an obvious result of owning a four-plex but I guess the thought had not sunk in that I was now a landlord. I found a room mate for my unit and before I knew it my housing was free.
The four-plex was in the city and close to everything. I had time on my hands since I did not have to work much so one day I decided to accomplish all my errands by foot. It took longer but was very satisfying to fill my backpack with groceries and library books. In short order I walked or rode my bike for nearly every appointment and errand. I could not have done that with a home in the country. Very quickly I saw my cost of living drop and the considerable benefits of owning and living in a multi-family over a home.
Skyhigh
