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Updated over 9 years ago on . Most recent reply

User Stats

3
Posts
1
Votes
Justin Simoes
  • New to Real Estate
  • Long Island, NY
1
Votes |
3
Posts

Beginner in Long Island

Justin Simoes
  • New to Real Estate
  • Long Island, NY
Posted

I am 21 years old from Long Island and am fortunate to have a good secure job in construction paying 60k/yr after taxes before overtime

I am new to real estate and have been trying to learn as much as I can do I can make the most lucrative first big move

The plan I have leaned towards to this point is to invest in a duplex. I want a place I can call "home" but I don't want to put all my eggs in one basket and put myself in a position where I'm just working to live paying bills and can never accumulate enough money to make my next move. A duplex will give me a home and I can rent which would provide me with experience as a landlord and with the problems that come with the territory.

I Would like to do this without having to put 20% down but don't understand fully the pros and cons of putting down less. If it is recommended I am patient and will continue saving so I can do so

Any advice on how to go about my plan or other opinions on what I should do for my first big investment would be greatly appreciated 

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