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Updated about 3 years ago on . Most recent reply
Duplex buying in texas
Hello, I was thinking about investing in a duplex in Arlington Texas, I heard if you live there on property, you have a lot of tax deductions. Is there a rule of thumb on the amount of cash on hand you need to make a purchase? or does it depend on the cost of property? 1st time posting
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#3 Creative Real Estate Financing Contributor
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Quote from @Joe Cossio:
Hello, I was thinking about investing in a duplex in Arlington Texas, I heard if you live there on property, you have a lot of tax deductions. Is there a rule of thumb on the amount of cash on hand you need to make a purchase? or does it depend on the cost of property? 1st time posting
You can buy with a FHA loan for as little as 3.5% down, or for a conventional loan you would have to put down at least 15% both assuming you do live in the property. It can be a great way to defray the cost of ownership. It was how I got into real estate investing 20+ years ago before it was called house hacking! ha.
- Jay Hurst
