Advice - 21 and looking for first property investment

[Richard Switzer]

I'm 21 years old and want to invest in my first property.  I have some money for a decent down payment and would like to buy a duplex that I plan to occupy one side on and rent the other.  However the cost of property in Los Angeles where I live is crazy and don't want to relocate.  Any suggestions?  Should I start with a cheap duplex out of state that I don't live in?

[Charlie Price]

Keep saving and find a duplex you can afford as a primary residence in your area. It's a gr8 idea. Your tenant will pay a bulk of your mortgage so you can justify a higher priced property initially. You'll learn far more managing the in and out of tenants and advertising and interviewing perspective tenants, repairs and such if your right there. Keep onto it and your be laughing all the way to the bank in 10-15 years or so. And that time will go by quicker then you think. Let us know how it goes!