All Forum Posts by: David Smith

@Krys L Burke Did you already have tenants or did you have to find tenants? I'm assuming you did this in New York?

Unfortunately I’d probably have to go with a non owner occupied loan, so probably 20% down... did you already have tenants when you bought? How long did it take you to get tenants if not.

What type of financing did you use to get started?

Let me go a little more into specific, I’ve been reading of tons of stories of people who own a duplex and live on one side and rent out the other. They end up having the other tenant(s) pay the mortgage and they live fore free. Or they get a ton of cashflow. I’m curious if I’m just seeing the lucky ones or if this is a real possibility that is likely if done correct?

Just looking for some duplex or triplex owners who could elaborate on the possibilities of cash flow in duplexes, just want to see if it is truly possible to have other occupants pay off the mortgage and get some cash flow.

I'm new to BP, but I've been listening for awhile and have read a few books from the forums, I'm excited to make my first deal. But I'm not sure where to start, I'd like to invest in a rental property. But I'm unsure if thats the best thing to do starting out, any tips or suggestions are appreciated. I've also not having much lot finding a lender that can work with me, any suggestions? Thanks