All Forum Posts by: Devin La Croix

Hello, I’m a relatively new investor, I recently bought a duplex last February 2024, I live in one unit and rent the other. If I were to rent both sides I would come up ahead $250 after all expenses. I’m currently working towards another rental property (duplex or larger) but I know I still need funds. The next property will be another owner occupied. I’ve saved enough for a down payment, but I’ll be left with only a little bit for emergency funds. I’ll basically be counting on my tenants to pay on time everytime. Im not sure if that’s the way to go. When is it a smart time to reinvest? How much should I have for an emergency fund for each property?

@Jaycee Greene I’m looking to buy another 2 unit duplex, prices are ranging between 500K - 650K. I’m hoping that once I do have enough saved I can buy the second property and continue house hacking.

Okay, I have not heard of this strategy but I had an idea. Right now I own a duplex, I live in one unit and rent the other for $1400 per month. My mortgage is $2450 monthly. I’ve been in this unit for almost a year now and I’m thinking about moving out and renting an apartment for $1000 a month all utilities included. I would rent both units out and should get $350 in passive cash flow. The apartment will be 10 miles to work instead of 40 miles (saving money on gas). I’ll be splitting the rent 50/50. I’m trying to buy a second multi family. I’m close to saving up for a down payment but it’s taking forever! I’m hoping to do this strategy in order to save month quicker to buy the next property. What is your thoughts? 

ie. The apartment is owned by family and I wouldn’t be tied down to a lease.