So my best friend and I and likely his GF are thinking about moving into a place with maybe one other person around Boston to save costs since its an expensive city to live in. But our ultimate Idea is to hopefully sooner rather than later go in 50/50 on a Duplex around Boston somewhere. The obvious idea is an investment for both of us, the three of us could live in one side and the other side could be rented to cover the majority of the mortgage. Living close to rent free more than making money immediately is our goal. Then as we get older, along with other investments, index funds, and IRAs, 401ks etc, as we get better at the landlording thing, dive into more property ownership. We are both 27 and make decent 40-60k salaries that will only increase over time. So we hope to start small but build towards FI with the help of the cost of living in Boston. Having that Duplex make us money for many years to come down the road.
Anyone start this way? Good thoughts, or negative thoughts? It seems like a pretty solid way to lower your rent for many years, then as a way to make profit down the road.