Updated over 14 years ago on . Most recent reply
First deal...duplex
Everyone,
I'm seriously considering my first real estate deal in my journey. There is a duplex in town that is in a great area and needs a little bit of work. The numbers all work out.
My question is this, I am getting married in a year to a year and a half. I am planning on buying this property now, living in one side and renting the other until I get married. Then I will rent both sides out and my wife and I will purchase our own SFH.
I am currently employed as an accountant at a CPA firm and don't plan on that changing. I'm a little concerned that my DTI will be too high with the duplex to allow financing for our own SFH. Would I be better off starting off renting both sides (to let the rental income of both sides hit the tax return) and just rent something to live in myself until I'm married?
What do you all think?