All Forum Posts by: Peter Cipparulo

@Michael Germinario 

Thanks, yeah, we figured a duplex would be a good start, to learn the in's and out's of being a landlord and real estate investment. We also want to see if we even like doing it! 

@Elizabeth Colegrove 

I will definitely check out the podcast! Congrats on the 10th property on the beach. I do have a question, when purchasing a new property, do you apply for another loan and put 20% down, or do you buy the property in full (no way I could do that)?

Thank you everyone for helping me out!

@Trevor Ewen 

That's an idea. Say we do take the conservative route and just get the duplex, lets say we took a $250k loan. If we want to move out (and rent the second half) and get our own home, would it be hard to get another personal loan? 

Now, to mentally prepare myself for such an adventure, I have to get over the idea of debt vs. investments correct? Yes, a $250k loan from a bank and getting a ROI is different than just taking out a loan for a personal where there is no income generated from that..

@Trevor Ewen @Peter MacKercher 

Thank you for your responses. 

Buy the home personally, create an LLC to manage so that liability stops at the LLC. With the FHA loan, minimum down is 3.5% but would you recommend putting down 20% to skip the pmi.

Hi everyone,

My wife and I are looking to purchase our own home and looking into real estate investment. I'll be to first to admit I have a lot more learning to do on this topic, but would like to make moves. We are looking to purchase our own home, but we were thinking about purchasing a duplex to live on one side, and to rent out the other. Could this potentially be a good investment? My wife and I both work full time jobs and would be able to afford the mortgage if we have no renter. My wife also has a student loan, would it be a good idea to consolidate that loan into the duplex?

Should we create an LLC first before purchasing the duplex just in case the renter gets hurt and wants to sue?

Thank you all!