24 Year Old - First Home?

[Kevin Dai]

Hi All, I've been listening to the podcast, and it's gotten me excited. I've been employed in Houston for almost 2 years now, and with my lease about to end in June I've started thinking of buying my first home. Single, probably will not be in Houston for longer than 2 years, but would like to buy something for the next 2 years and then rent it out when I leave.

The problem is, what I'm looking for (inside the loop, more city-like and preferrably a newer home) is rather expensive, 350k+ 3bed/3bath! If I rent out the other two rooms, I can come out of it decently, but where I am looking to live differs a lot from 'good investments' and areas that could provide the best cashflow.

The mentality of living in my first investment sounds great, but when is it really not that great of an idea?

Couldn't find specific things other than many people suggesting buying duplexes and renting out one half. Those don't really exist around my target neighborhoods.