Advice on my first real estate investment..

[Alex N.]

Hello Everyone!

I'm a huge fan of this site and have been checking it regularly for a few months now! It's time for my first post! I'm hoping to get some honest feedback on a duplex I'm thinking about purchasing.

I work in property management currently and realize this is something I want to do long-term. I've come across a duplex that I'm thinking about purchasing. Currently, 1 unit is rented, so there's an open unit. I'm planning to purchase it with a FHA loan and live in the other half for the first year. With this plan, I would need to contribute ~$150/month to break even the first year. However, after the first year I can move out and rent the other half. By doing this, my cash flow increases dramatically and I have a 55% Cash ROI that first year. I've done a ton of research and really think this would be a great move for me. I'm 24 with little debt and a great job. I tend to overthink things at times and have read many times on this site that "your first deal is always the hardest, most nervewracking, etc", so I'm just looking for another perspective. Looking forward to hearing your feedback!

Alex