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Updated over 10 years ago on . Most recent reply

User Stats

94
Posts
9
Votes
Brandon Monaghan
  • Mount Pleasant, SC
9
Votes |
94
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23 Years old and buying my first Duplex

Brandon Monaghan
  • Mount Pleasant, SC
Posted

I am 23 years old and I will be graduating College in May.  I will be living in Denver CO and I am looking to put a down payment on a duplex.  I want to live in one side with my buddy and rent out the other side.  I will have a salary based job for income.  Does anyone have advice, insight, and or recommendations.  Videos to watch; books or articles to read?  

Most Popular Reply

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895
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453
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Micki M.
  • Flipper/Rehabber
  • York, UK
453
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895
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Micki M.
  • Flipper/Rehabber
  • York, UK
Replied

@Brandon Monaghan the amount of your downpayment will depend on lender requirements, how much you want to leverage vs pay down the property, and also what kind of cash reserves you want to have in case of emergency repairs, etc.  I always recommend talking to a lender first to get an accurate picture of your individual situation and have extra time to take care of any credit improvements that will put you in a stronger purchasing position. I sent you a colleague request and am happy to recommend investor-friendly lenders.

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