Updated over 1 year ago on . Most recent reply
New Duplex Build 1st Investment Property
How bad an idea is building for your first investment property? 200K down on 400K new build duplex. We built our residence in 2008 and man I should've built 5 then! LOL. Gave that context as I have that as experience to guide me this time. I also own a 140 acre farm that has moved from paying for itself to positive cashflow. I'm actually ELOC loan for the 200K down payment. Build site is a block down from my house, so I'm planning to manage myself. Even with 200K down on a 15 year fixed, It's barely $160/month cashflow positive. Putting that much down gets my DSCR about to where I need it. Banking an 11% vacancy since there are only 2 doors. Big thoughts are I'm 43 and can retire from my W2 career (Middle school principal) in 10 years, and I want my investments ready and waiting on me then. Thanks in advance for your thoughts!
