Looking to buy first time property for a investment

Member since 2026 · 2 posts · 4 votes

I'm looking into buying my first property at 24 years old it's a duplex with both sides currently rent out, there asking 190,000 for it and would like to know a couple of things to like for before buying this investment property. I'm new to this whole real estate thing and would like to know if it's a good deal if your rent would pay your mortgage every months but have less of a cash flow

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Minho Lee

Real Estate Agent · Worcester, MA · Member since 2026 · 114 posts · 54 votes

5mo

Other than all the good advice people have already given, attend local real estate meetups, networking events. You can meet your business partner, mentor, or an off-market deal. You may be one conversation away.

Also, try to connect with a local agent who also invests in your market.

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Lipa F.
Investor · Member since 2024 · 79 posts · 32 votes
5mo
For how much is the units rented?
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G. Brian DavisPro Member
Investor · Hatboro, PA · Member since 2016 · 3k+ posts · 873 votes
5mo
It could be a good first deal, but don’t look only at rent covering the mortgage. Make sure it also covers taxes, insurance, repairs, vacancy, maintenance, and future big ticket items. Review the leases, tenant payment history, deposits, and condition of both units.

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Devin PetersonBusiness Member
Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 670 votes
5mo
Quote from @Antonio Raigoza Leanos:

I'm looking into buying my first property at 24 years old it's a duplex with both sides currently rent out, there asking 190,000 for it and would like to know a couple of things to like for before buying this investment property. I'm new to this whole real estate thing and would like to know if it's a good deal if your rent would pay your mortgage every months but have less of a cash flow
I think any one will tell you that having a piece of property that covers a majority of the principal and interest payments is a solid find considering high price and rate environment, don’t forget that debt pay down and equity growth overtime are also helping to your advantage.
[email protected]860-538-3672
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Marc Winter
Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
5mo
@antonio

@Antonio Raigoza Leanos,
Honestly, at 24 years old, the fact that you’re even looking at a duplex already puts you ahead of a lot of people.

But let me give you one important piece of advice: Don’t focus only on whether the rent covers the mortgage payment.

That’s where a lot of first-time investors get into trouble.

You also need to account for:
- Property taxes
- Insurance
- Repairs and maintenance
- Vacancy
- Future capital expenses (roof, heating system, etc.)
- Utilities (if owner-paid)
- Tenant quality and payment history
A property can technically “pay for itself” on paper and still become stressful in real life.

Also pay close attention to:
- Roof age
- Plumbing/electrical
- Heating systems
- Current leases
- Whether rents are actually at market value
- The neighborhood itself
Kitchen table truth:

Your first deal does not need to be a home run.

It needs to:
- teach you the business
- protect your finances
- and help you build confidence
That’s success on deal #1.

And one more thing: don’t underestimate location. A “cheap” property in the wrong area can become expensive very quickly.

You’re asking the right questions already, which is a very good sign.

If you’re comfortable sharing the actual numbers (taxes, insurance, rents, estimated payment, etc.), people here can probably help you stress-test the deal a little better. Feel free to dm me with any additional questions.

Good luck!
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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 961 votes
5mo
Quote from @Antonio Raigoza Leanos:

I'm looking into buying my first property at 24 years old it's a duplex with both sides currently rent out, there asking 190,000 for it and would like to know a couple of things to like for before buying this investment property. I'm new to this whole real estate thing and would like to know if it's a good deal if your rent would pay your mortgage every months but have less of a cash flow

The biggest thing is making sure the rent doesn’t just cover the mortgage, but also taxes, insurance, repairs, vacancy, maintenance, and unexpected expenses, because that’s where a lot of first-time investors get surprised. Low cash flow isn’t automatically bad if the property is in a solid area and the numbers are stable, but you definitely want some monthly cushion so one repair doesn’t put you underwater. I’d also pay close attention to the condition of the roof, plumbing, electrical, HVAC, and whether the current rents are actually market rents or below market.
[email protected]614-418-6081
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Juan Mateo
Lender · Marlborough, Mass · Member since 2024 · 34 posts · 2 votes
5mo
Congrats on starting at 24 — a duplex can be a great first investment. Don’t just look at whether rent covers the mortgage. Check taxes, insurance, repairs, vacancy, maintenance, and current lease details too. Also inspect big-ticket items like the roof, plumbing, HVAC, and foundation.

If cash flow is tight, ask yourself: what happens if one tenant moves out or a major repair comes up? Get the rent roll and run the full numbers before deciding. If you can share the rent numbers and estimated expenses, we here can help break down whether it’s a solid deal.
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Minho Lee
Real Estate Agent · Worcester, MA · Member since 2026 · 114 posts · 54 votes
5mo
Other than all the good advice people have already given, attend local real estate meetups, networking events. You can meet your business partner, mentor, or an off-market deal. You may be one conversation away.
Also, try to connect with a local agent who also invests in your market.
2 Reply
James Johnson
Real Estate Consultant · San Diego, CA · Member since 2026 · 11 posts · 5 votes
5mo
Hey Antonio! First off — buying a duplex at 24 is a smart move. House hacking is one of the best wealth building strategies available.
Here's what to look at before pulling the trigger:
1. Run the real numbers
Find out the actual rent each unit brings in. Then calculate:
Mortgage payment (at current rates on $190k with 20-25% down)
Property taxes + insurance
Maintenance reserve (set aside 10% of rent monthly)
Vacancy reserve (set aside 5% of rent monthly)
2. The "rent pays mortgage" question
Rent covering the mortgage is a good start — but not enough. You need rent to cover mortgage AND taxes AND insurance AND repairs. That's your true break even.
3. Check the cap rate
Take annual rent income minus expenses divided by purchase price. Wichita is a solid Midwest market — you should be able to find 6-8% cap rates.
4. Inspect everything
Get a thorough inspection. Roof, HVAC, plumbing, electrical. On a duplex you have two of everything — repairs add up fast.
5. Talk to current tenants
Are they month to month or on leases? How long have they been there? Good tenants are worth a lot.
Starting at 24 with a duplex puts you miles ahead of most people.
Feel free to share the actual rent numbers and I can help you run the analysis! 🤝
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Kerlous TadresBusiness Member
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
5mo
@Antonio Raigoza Leanos Honestly, rent covering your mortgage is a solid start, but what I'd really focus on is whether you're clearing at least $200 per door after ALL expenses, not just the mortgage, because vacancy, repairs, and property management will eat into that number fast. Before anything, pull the actual rent rolls and 12 months of expense history from the seller, and make sure those rents are at or close to market rate so you know if there's room to grow.
[email protected]614-490-1163
Kerlous Tadres | Reafco Real Estate541 Reviews
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SJ Salais
Member since 2026 · 3 posts · 0 votes
5mo
Quote from @Antonio Raigoza Leanos:

Great start and way to ask questions. We own two and manage five (in all different areas) and love it! I'm hosting a webinar on the 20th with Pricelabs.

We’re diving into the strategy behind dynamic pricing and how it affects:

• occupancy

• market demand shifts

• competition

• booking windows

• holidays + event traffic

You are welcome to join us if you’re free.

May 20 • 5 PM CDT / 6 PM EST

Zoom Webinar

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Melvin Crawford
Member since 2026 · 7 posts · 3 votes
5mo
Congrats!!! Along with everything that everyone has said. Dot all I's and cross all T's.
1 Reply
Garrett CrosbyPro Member
Real Estate Agent · Los Angeles, United States · Member since 2021 · 392 posts · 162 votes
4mo
One thing that hasn't been mentioned yet: at 24, you have an option most investors don't get twice — you can house hack this. If you move into one side as your primary residence, you can get FHA financing at 3.5% down instead of 20-25% for a straight investment purchase. On a $190K duplex that's roughly $6,700 down vs $38-47K. That changes the whole financial picture and frees up cash reserves for the inevitable repairs.
On the cash flow question: in Wichita, $190K for a duplex should pencil out. The test isn't just "rent covers mortgage" — it's rent minus mortgage, taxes, insurance, 5% vacancy, 10% maintenance reserve, and any management fee if you ever add one. Run that math. If you're still positive or even at break-even with the house hack side income subsidizing your living costs, you've essentially eliminated your rent expense entirely while building equity. That's the real play here at your age.
Happy to help you run the numbers if you post the actual rent figures. This sounds like a solid first deal.
[email protected]
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