Multi-Family and Apartment Investing

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Should I buy my rental (duplex)?

Posted Jul 20 2019, 10:37

Hello all--new to the real estate thing. My landlord is selling my duplex, which I currently rent one unit in. It's walking distance to a major university, walking distance to downtown, Whole Foods, Trader Joe's etc. I've loved living here and they've done a ton of work to bring it up to snuff (including replacing most of the foundation). I've been looking for a single-family home in the $250,000 range ($1750 monthly payment including all utilities, savings for maintenance, etc), which is the max I can afford as one person.  My landlord wants to sell the duplex for $380,000 ($2669 monthly payment). I estimate that If I rent the other side for $1500/mo, I can get my monthly payments to roughly the equivalent of my current rent ($1169). But do I take the risk? As a first-time buyer, what am I missing/not considering that would change my mind one way or another? 

Thanks all! I'm so glad I found this place! 

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