Updated almost 13 years ago on . Most recent reply
Mentors- duplex or single
After gradutation for college i am looking to get right into the real estate world focusing on investing and flipping.
Currently i am wondering if it is smarter to buy a duplex as my first home and rent the second part of the home (leaving me rent free) or to buy a single and start saving to buy my first flipper?
let me know the benefits, thanks.
Ryan
Most Popular Reply
Jon makes good points as usual. For your first house, duplex or not, I would try to find something that will be profitable as a stand alone rental or at least break even. A good rule of thumb to determine this is the 50% rule. (search the forums for what the rule entails). If you can land something that fullfills 50% rule criteria and at least breaks even, you will most likely be making a good decsion. The challenge is finding the house in the neighborhood you are willing to live in for 2 to (lets be realistic) 5 years.