First time home buyer looking to buy a duplex
Deena KaspersonPro Member
Sumner, WA · Member since 2025 · 5 posts · 1 voteFirst time home buyer looking to buy a duplex
Most Popular Reply
Member since 2025 · 104 posts · 37 votes
9moA lot of my first time Investors buy a Single Family, live in it for a year to satisfy the mortgage requirements and then turn it into a Rental...rinse and repeat. The good thing about a Duplex is you live right next to your Tenant, the bad thing about a Duplex is you live right next to your Tenant..
12 Replies
- Property Manager · Member since 2024 · 117 posts · 112 votes9mo
Are you open to other markets? If so, I can offer some guidance.
- Sumner, WA · Member since 2025 · 5 posts · 1 vote9moHi Gia, I am stuck in my area for now because of my kiddo and job. I want to live in this investment for a year until I can get my next deal.
Quote from @Gia Hermosillo:
Are you open to other markets? If so, I can offer some guidance.
- Investor · NC · Member since 2022 · 18 posts · 10 votes9mo
Hi Deena,
It’s great that you have solid savings and credit — that gives you a lot more flexibility than it might feel like right now. Are you only looking at duplexes? I ask because house-hacking can look like a lot of things (basement unit, garage conversion, housemates, etc.), not just small multifamily.
You might also consider something smaller like a condo or townhouse — especially if it gets you out of a bad rental situation while still keeping some capital to invest elsewhere.
Sorry if I’m rambling a bit, but the core idea of house-hacking is really about intentionally lowering your housing costs so you can build wealth. If you’re hitting walls in a high-cost area, it may be worth brainstorming different ways of how can you do that.
- Sumner, WA · Member since 2025 · 5 posts · 1 vote9mo
Quote from @Sabrina Speights:
Hi Deena,
It’s great that you have solid savings and credit — that gives you a lot more flexibility than it might feel like right now. Are you only looking at duplexes? I ask because house-hacking can look like a lot of things (basement unit, garage conversion, housemates, etc.), not just small multifamily.
You might also consider something smaller like a condo or townhouse — especially if it gets you out of a bad rental situation while still keeping some capital to invest elsewhere.
Sorry if I’m rambling a bit, but the core idea of house-hacking is really about intentionally lowering your housing costs so you can build wealth. If you’re hitting walls in a high-cost area, it may be worth brainstorming different ways of how can you do that.
Hi Sabrina,
Thank you for your response. I am exploring a condo, I just wasn't sure about HOA dues and the inability to control increases through special assessments. I think you have given me good food for thought and maybe I could adjust my search criteria to single family homes with potential to divide.
- Member since 2025 · 104 posts · 37 votes9mo
A lot of my first time Investors buy a Single Family, live in it for a year to satisfy the mortgage requirements and then turn it into a Rental...rinse and repeat. The good thing about a Duplex is you live right next to your Tenant, the bad thing about a Duplex is you live right next to your Tenant..
- 9moJoey BanasihanPro MemberInvestor · Boise, ID · Member since 2019 · 238 posts · 189 votes
Hey @Deena Kasperson - I don’t know your specific market, but at a high level that price point feels tough for a first duplex, especially if you’re relying on it to feel “safe” and turnkey.
I only do house hacking as my strategy and a couple things I would keep in mind with house hacking right now,1) the goal isn't usually to have it fully cash flow once you move out, especially in higher priced markets. If that's the bar, you'll likely be waiting a long time. 2) House hacking is more about offsetting your living costs while you build equity and learn, not creating a perfect rental on day one. 3) With the savings and credit you mentioned, leveraging something like FHA with a low down payment on your first deal can make sense, but where your money really works for you is finding value-add upside through renovations/rehabs - when you can force equity rather it can provide flexibility down the line.
I’d also strongly recommend working with an agent who actually invests and has people they trust for rehab, even if you’re not doing anything major right now. That support matters more than people realize on a first deal. The tradeoff here is usually comfort vs. flexibility. The first property doesn’t need to a perfect home run, it just needs to be a base hit to get you into the game, be survivable if you pay costs to hold it in the long term, and then you repeat. Happy to chat more!- Sumner, WA · Member since 2025 · 5 posts · 1 vote9moThank you, Joey. Your insight makes a lot of sense. I may continue to look around. I'm starting to think off-market deals are the way to go in my area.
Quote from @Joey Banasihan:
Hey @Deena Kasperson - I don’t know your specific market, but at a high level that price point feels tough for a first duplex, especially if you’re relying on it to feel “safe” and turnkey.
I only do house hacking as my strategy and a couple things I would keep in mind with house hacking right now,1) the goal isn't usually to have it fully cash flow once you move out, especially in higher priced markets. If that's the bar, you'll likely be waiting a long time. 2) House hacking is more about offsetting your living costs while you build equity and learn, not creating a perfect rental on day one. 3) With the savings and credit you mentioned, leveraging something like FHA with a low down payment on your first deal can make sense, but where your money really works for you is finding value-add upside through renovations/rehabs - when you can force equity rather it can provide flexibility down the line.
I’d also strongly recommend working with an agent who actually invests and has people they trust for rehab, even if you’re not doing anything major right now. That support matters more than people realize on a first deal. The tradeoff here is usually comfort vs. flexibility. The first property doesn’t need to a perfect home run, it just needs to be a base hit to get you into the game, be survivable if you pay costs to hold it in the long term, and then you repeat. Happy to chat more!
- 9moWale LawalBusiness MemberReal Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
Your financial situation appears to be very secure which creates a positive situation for you. Your current search for a turnkey property to use for house hacking should include less competitive areas because you will discover better cash flow opportunities from duplex properties in those regions. You should assess your current situation because it has become difficult for you to progress. You need to find a property which matches your long term investment objectives while providing you with a residence. You need to find the right balance between your home needs and your upcoming investment growth requirements.
Good luck!
NETWORTH BUILDERS5236 Reviews - 9moTre DeBragaPro MemberReal Estate Agent · Worcester, MA · Member since 2022 · 112 posts · 49 votes
Hey Deena,
You seem to be in a good situation in terms of savings and credit. First things first. You do not need to offer something at asking. A lot of investor offer way below asking if the deal does not pencil out at asking. Have you looked at stuff that has been on the market for a while and offered well below asking?Also, I would get into an off market search. Connect with investor friendly agents, investors, and wholesalers and let them know what you are looking for. Get to meetups as well.
I know you said you need something turnkey but have you considered looking at stuff that is super light remodel? Paint, flooring and some new cabinets? Hire a team to do it? Seems like you have the money to go 3.5% down on the house and still can afford some light remodels.
Sometimes you gotta get a little uncomfortable to grow your portfolio. That might look like not living in a complete turn key.- Sumner, WA · Member since 2025 · 5 posts · 1 vote9moThank you for your advice. I am considering this now. The full price offer I placed was outbid by $50,000, so I am moving on now.
Quote from @Tre DeBraga:
Hey Deena,
You seem to be in a good situation in terms of savings and credit. First things first. You do not need to offer something at asking. A lot of investor offer way below asking if the deal does not pencil out at asking. Have you looked at stuff that has been on the market for a while and offered well below asking?Also, I would get into an off market search. Connect with investor friendly agents, investors, and wholesalers and let them know what you are looking for. Get to meetups as well.
I know you said you need something turnkey but have you considered looking at stuff that is super light remodel? Paint, flooring and some new cabinets? Hire a team to do it? Seems like you have the money to go 3.5% down on the house and still can afford some light remodels.
Sometimes you gotta get a little uncomfortable to grow your portfolio. That might look like not living in a complete turn key.
Quote from @Deena Kasperson:
https://www.zillow.com/homedetails/6931-6933-Sacramento-St-S...
I am a first time home buyer looking to purchase my first duplex. I put an offer on the one linked above at $699,000. I've used the rental income calculator and determined this doesn't pencil out. My problem is I don't have the time, knowledge or experience to rehab a home or upgrade one right now so I need to find something turn key. Also I need a place to live (this will be a house hack). I am currently renting and hate it here! It's old, poorly insulated and a half block from a railroad crossing. I've been searching for a duplex for 9 months. Nothing has made sense yet. I have saved $150,000 and my credit can't be better.
My fear is if I go through with this one I will be stuck here and be unable to grow my portfolio in the future.
Can anyone give me insight on what I should do in this situation?
when you say it deos not pencil out, what do you mean? Are you saying that the rent does not cover your entire payment? I may be putting words in your mouth here but I do hear that from would be house hackers. The reality with prices and rates were they are that is simply not at all realistic. (MAYBE you can do it with a 4 unit building in the upper midwest but not in most parts of the country). But, does that mean house hacking does not work? heck no. The tenent will subsidize your payment. The idea is that you would be able to live in a property for much cheaper then you would live in the same location/property type if you were renting. if the market rent is 3k, and your total payment is 4500 the tenant is paying half your living expense as your net is 1500 instead of 3000. Then of course there are tax benefits, you are building equity with the teneant paying half 2/3rd of that equity in my scenerio. And finally, when you move out you will now have have 2 units to rent bringing in 6k on your 4500 a month payment with an owner occuied rate.
Hurst Real Estate, INC4.992 Reviews- 9moAlfath AhmedBusiness MemberReal Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Deena Kasperson:
https://www.zillow.com/homedetails/6931-6933-Sacramento-St-S...
I am a first time home buyer looking to purchase my first duplex. I put an offer on the one linked above at $699,000. I've used the rental income calculator and determined this doesn't pencil out. My problem is I don't have the time, knowledge or experience to rehab a home or upgrade one right now so I need to find something turn key. Also I need a place to live (this will be a house hack). I am currently renting and hate it here! It's old, poorly insulated and a half block from a railroad crossing. I've been searching for a duplex for 9 months. Nothing has made sense yet. I have saved $150,000 and my credit can't be better.
My fear is if I go through with this one I will be stuck here and be unable to grow my portfolio in the future.
Can anyone give me insight on what I should do in this situation?
Your current market is going to be tough to cashflow and numbers generally won't make sense. I would look into the Midwest where it is a landlord friendly state and a ton of tech companies are investing here.
Connect with a good investor focused realtor than can send you off-maket deal flow with 15-20% equity at the purchase, find a good GC, good lender with lower interest rates and easy to work with, and an amazing Pm that can lease and manage for you.
ReafCo | Ahmed Group 533 Reviews
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