Live in duplex when starting out
Hey guys!
I have decided I am going to learn all I can about real estate and take the plunge into a duplex (if I can find the right deal) in my local area of Madison, WI by Q3 2018. I have seen many say a great way to start out is living in a multifamily home, however, I am confused when reading forum posts and checking out articles about the cashflow of this situation.
When you live in your rental home, should you accept having to pay some of the mortgage yourself hoping that when you purchase the next place you will get a tenant to take your current place to start cash flowing?
From a consumer standpoint, it makes sense to be paying your own mortgage, but I am honestly sick of being just a consumer and am ready to do what I need to become an investor. In the Madison market it seems impossible (to a newbie) for the cashflow to be positive when renting out only one side of the duplex. What do you guys think?