Hi, my name is Brian Castle. I’m 21 years old and I want to get into real estate to create financial freedom for myself. The goal is to eventually get into owner financing, but I wanted to get some experience first. My question is: would it be a good idea to buy a duplex, live in one side, and rent out the other? I would probably get a property manager, as well as, a PO Box for them to send the rent to. I’m all ears to any tips or advice anyone might have. Thank you in advance to anyone who took the time to read this!
A diplex is a great first time investment tool and by living in one side as your primary. You are actually able to put less money down and later rent out both units. Paying for a property manager right away may not be the best idea if you are living next door. I would get Pre-approved by a bank/lender and see what your options are for the best outcome.