Should I buy a duplex or wait?

[Mike Wills]

Hello,

So, I'm in a sticky situation. Im learning on here that buying a duplex and house hacking is a great way to start real estate investing. I don't own real estate and never bought a home but always thought about this. So I'm in the Canadian Military and awaiting an occupation transfer to a whole new trade and unsure which one, or when, or where I'll be posted. This could take a year or so.

I've found this beautiful duplex that is being rented. The owners have been divorced recently so they may sell it for less. I've already seen it drop in price from 330k to 300k. I think its definitely below market value and I want to buy it asap! there is a nice front door entrance that goes straight into the second living room and a bedroom with 2 piece bathroom (no shower) which I'm thinking could work on Air BNB, it that's okay to have a unit without a shower on there.

the rent upstairs for the 2 bedrooms goes for $1100 a month and I may be able to get $500 a month for the air bnb. This would be 1600 a month. The mortgage might only be 1500.

So what should I do? I guess if I get posted elsewhere I could rent the 2 bedroom portion that I would be living in for more cash flow, since its beautiful and has a pool in the backyard. It may even rent for an additional 1500. So if we have to move we could rent temporarily in cheap military housing then get another duplex? because it would be cash flowing quite a bit.

Should I go for it or wait? (Just hate having to throw 1000/month away in rent atm)

[Aly Vizcarra]

Go for it @Mike Wills

I think you´ve answered alot of your own questions.  If you have an immediate ¨cash flow¨ opportunity then the property is paying for its self.  Keep in mind the possible cost associated with owning the property. You will be responsible for maintenance costs. Be sure to get a home warranty that covers both units. Best of luck Sir.