The Duplex Path?

[Nathan Wilkerson]

Alright everyone, 

I'm looking for a little bit of advice to help me brainstorm.

So as a college student, I have been fortunate enough to live with my parents while I work, finish up school. and help take care of the house. Needless to say, I am more than ready to get out. 

I do not want to deal with an apartment because I do not like the idea of giving money away that doesn't help me somewhere in the long run, which is kind of why I am apart of the BP community. But on the other hand, I do not want to jump into a mortgage that is going to cause me trouble or set me back any longer for my investment career.

With that said, I am curious about the Duplex path that I have seen many people talk about. By investing in a duplex, I can move in and still have another section to rent out. I feel that it is a good way to both get my investment career started, and also get out of my parents house all in one swing.

What do you guys think? Does anyone have any advice, or prior experience with the situation? Is there anything I should watch out for that could hurt me in the long run?

Thanks everyone! Every little bit of advice helps!

[James Stevens]

I love the idea of a duplex for your first investment property.  As you said, you can live in one side and have income from renting out the other side.  This is the idea of "house hacking" that Brandon Turner is so fond of.  (And I'm in total agreement with him!)  It is a great way to start!