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Updated over 9 years ago,

User Stats

66
Posts
9
Votes
Jose Alonso
  • Investor
  • Miami, FL
9
Votes |
66
Posts

Question? Rental property or Primary home?

Jose Alonso
  • Investor
  • Miami, FL
Posted

Okay guys so I've been going back and forth with this, and still not sure what's the best route. So me and my girlfriend for the last 15 years are going into real estate investing 100% committed starting Jan 2016. Decent jobs and by Jan well have about 30k in savings. So question,(1) should our first property be a duplex around 125k with 20% down to rent out both units. (2)Or should we go for a duplex to live in and rent the other unit, with 5% down the area close to both our jobs Multi unit homes go for around 300k. So big difference in purchase price. Option 1 we can probably buy two of these properties in 2016, while still living in my moms house eventually we will rent a condo. lol yes my MOMS house. Option 2 I feel like our money will be tied up in the property and she wont get a 2nd loan at least for the time being, but well have a home of our own to live in. Any opinions on this, maybe some of you guys have faced the same dilema before. Thanks for the input.        @JoseAlonso

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