Advice Needed for My Potential First Real Estate Investment
Member since 2026 · 4 posts · 3 votes
Advice Needed for My Potential First Real Estate Investment
Most Popular Reply
Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votesJust find an excellent inspector that knows older properties. Listen to them.
8 Replies
- 5moGreg ScottPro MemberRental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
Just find an excellent inspector that knows older properties. Listen to them.
- Member since 2026 · 4 posts · 3 votes5mo
Quote from @Greg Scott:
Just find an excellent inspector that knows older properties. Listen to them.
Thank you for the advice!
- 5moHamp Lee IIIPro MemberReal Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
Finding good duplexes out here can be tough. They are typically priced too high and not in good condition. There is a new build of duplexes on the west side that provides a good yield.
Also, check out the Neighborhood Assistance Corporation of America (NACA) program unless you're military:
NACA was formed in 1988 and provides an affordable option for potential first-time buyers:
✅ No down payment
✅ No closing costs or fees
✅ No mortgage insurance
✅ No consideration of credit score
✅ Below market fixed interest rate
There are several requirements to be eligible, starting with attending one of their workshops.
- Member since 2026 · 4 posts · 3 votes5mo
Quote from @Hamp Lee III:
Finding good duplexes out here can be tough. They are typically priced too high and not in good condition. There is a new build of duplexes on the west side that provides a good yield.
Also, check out the Neighborhood Assistance Corporation of America (NACA) program unless you're military:
NACA was formed in 1988 and provides an affordable option for potential first-time buyers:
✅ No down payment
✅ No closing costs or fees
✅ No mortgage insurance
✅ No consideration of credit score
✅ Below market fixed interest rate
There are several requirements to be eligible, starting with attending one of their workshops.
Thank you for your response. I will definitely check this out. Are there any qualification I will need for it? What does the process usually consist of?
- 5moHamp Lee IIIPro MemberReal Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
Quote from @James Hofmann:
Quote from @Hamp Lee III:
Finding good duplexes out here can be tough. They are typically priced too high and not in good condition. There is a new build of duplexes on the west side that provides a good yield.
Also, check out the Neighborhood Assistance Corporation of America (NACA) program unless you're military:
NACA was formed in 1988 and provides an affordable option for potential first-time buyers:
✅ No down payment
✅ No closing costs or fees
✅ No mortgage insurance
✅ No consideration of credit score
✅ Below market fixed interest rate
There are several requirements to be eligible, starting with attending one of their workshops.
Thank you for your response. I will definitely check this out. Are there any qualification I will need for it? What does the process usually consist of?
This builder used to boast a 5% ROI, but it is worth checking out: https://rosehaven.us/
- 5moJonathan LeeBusiness MemberLender · FL · Member since 2025 · 86 posts · 30 votes
Hi James,
House hacking a duplex is a great way to get started in real estate, especially as a first-time buyer. Living in one unit while the other helps offset your mortgage can make homeownership much more affordable and lets you learn landlording on a smaller scale. A 2-bed/1-bed setup can work well too, since the larger unit often commands stronger rent and gives you flexibility depending on which side you live in.
The fact that the property was built in the 1800s isn’t necessarily a deal breaker. Many older homes have great character and can perform well as rentals but I would pay extra attention to the big-ticket items. Things like the foundation, plumbing, electrical, roof, and sewer line are especially important in older properties. A thorough inspection will tell you a lot more than photos online. Window units aren’t ideal, but like you mentioned, upgrading to mini splits later can be a solid value-add improvement.
If the numbers make sense and the property is in a strong location near downtown attractions, that’s usually a positive sign for long-term demand and rentability. My biggest advice would be to run conservative numbers. Include maintenance, vacancy, insurance, and reserves so you’re comfortable even if expenses pop up. If it still cash flows or significantly reduces your housing cost after that, you’re probably looking at a solid first deal.
Overall, your plan sounds very reasonable for a first-time buyer. Just make sure you do strong due diligence, get a good inspection, and don’t rush the decision.
Helm Mortgage Corp.5124 Reviews- Member since 2026 · 4 posts · 3 votes5mo
Quote from @Jonathan Lee:
Hi James,
House hacking a duplex is a great way to get started in real estate, especially as a first-time buyer. Living in one unit while the other helps offset your mortgage can make homeownership much more affordable and lets you learn landlording on a smaller scale. A 2-bed/1-bed setup can work well too, since the larger unit often commands stronger rent and gives you flexibility depending on which side you live in.
The fact that the property was built in the 1800s isn’t necessarily a deal breaker. Many older homes have great character and can perform well as rentals but I would pay extra attention to the big-ticket items. Things like the foundation, plumbing, electrical, roof, and sewer line are especially important in older properties. A thorough inspection will tell you a lot more than photos online. Window units aren’t ideal, but like you mentioned, upgrading to mini splits later can be a solid value-add improvement.
If the numbers make sense and the property is in a strong location near downtown attractions, that’s usually a positive sign for long-term demand and rentability. My biggest advice would be to run conservative numbers. Include maintenance, vacancy, insurance, and reserves so you’re comfortable even if expenses pop up. If it still cash flows or significantly reduces your housing cost after that, you’re probably looking at a solid first deal.
Overall, your plan sounds very reasonable for a first-time buyer. Just make sure you do strong due diligence, get a good inspection, and don’t rush the decision.
Thank you for the advice! Not rushing the decision is something I need to work on for sure. Have you ever encountered asbestos in your investment properties? If so, how did you abate it properly?
- 5moSteven WesolowskiPro MemberRealtor · San Antonio, TX · Member since 2023 · 272 posts · 42 votes
If your interest is to buy/fix and hold a property to either live in or rent out yourself, do not let the age of a property dictate your needs. Age is only 1 of so many other factors that you will want to consider if you are looking to acquire.
Investors can house hack, but you are going to need funding to be able to move on your project fast and establish longterm duration financing if you are looking to hold the property.
If the property looks good, and it speaks to you, do not let a price tag hinder your movement when you have still got to allocate a repair and renovation budget after your purchase. Your out of pocket expense will grow as your progress on your first-ever renovation project if you are not 100% informed of the line by line itemization of the project item, labor and associated cost. Also you are going to need funds.
Sharing you are looking to buy is great, but do you actually have any liquidity or funds you can pull from to help you with sellers' down payment requirements and closing cost arrangement?
These are just the absolute first things that pop in mind when looking at any property you want to consider regardless of age of structure. A duplex I can tell you is an absolute game-changer for a home owner's income. You live in one unit, finance it out, and have the tenant in the other pay off your longterm cost. Plenty of strategy to through around and actually exercise your endeavor to side income directly into your future cash accounts.
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