Purchasing my first duplex

[Hayden Prather]

So I've been working very hard the last 4 years to flip my money, last year I got my real estate license. I sold two properties and now I'm about to house hack and purchase my first duplex putting the 3.5%. I'm going to buy for 156k and they'll throw a grand for closing cost for us. One level is a two unit and the other is a three unit and they both steadily rent out for $850 each bringing $1700 a month. My PITI is going to be $1000 a month, this property has been fairly remodeled the last 4 years new water heater, updated plumbing/ electrical new flooring throughout and recently painted and a little yard work done. Me and my girlfriend plan to move in one side, we're basically living for free and get to save $1000 a month which is what we are use to paying for rent. I feel good about this as my first investment to get my feet wet and am excited that we'll be able to save $12,000 after 1 year living in it. Then we'll move out and either flip or get a house we can fix and live in for a year or two. From the experienced people out there, do you think this is a great start for us?

[David Frandsen]

@Hayden Prather Congratulations on the house hack opportunity. Sounds fun. I would just make sure you are setting aside money for maintenance and capital expenditures. Use one of the BP calculators to make sure you are accounting for all of the purchase costs and expenses. Best of luck.