Hey everyone, Im new to realestate and currently trying to figure out how I want to start in real estate investing, I would love to do all types of REI investing but i was wondering what would be a good choice for a newbie Who hasnt made a deal at all, i was thinking of purchasing a Duplex and living in 1 side and renting the other, or purchasing a duplex with renters already in it with a positive cashflow, any ideas comments suggestions?
I think duplex is a good choice for cashflow and long term hold, even better if you can live in it while tenant pays for part of your mortgage.
If you are comfortable and cashflow numbers make sense, then go for it.
This is a Great Way to start and a lot of the top educators I have studied under suggest the same thing.
Just make sure you do all your due dillegence to make sure it will cash flow + for you and have someone with experience review the deal for you and pull the trigger!
REI is the best Business I know of!
Yeah I recently talked to two of my buddies that would be intrested in partnering with me, Because i would need the 2 extra incomes to show the bank we are capable of paying the moragage, + my credit is fairly new,
I was driving through my neighborhood, and i saw some empty lots that I could put a duplex on, do you think it would be cheaper to purchase a duplex already built or build a new one from scratch?
I also will start a thread of my progress once i do all my due dillegence