In one word, YES!

Perhaps one of the biggest reasons to buy your own duplex is to stop paying rent and to buy your own home. Finally with your own duplex, your monthly payments will go towards building home equity and the rental payment hemorrhage will cease. As a landlord you will have the tables turned. You will now be in the position to collect rents instead of paying them each month. Price your rent competitively and you will reap the rewards of being a landlord and duplex owner (more detail in later chapters).

The jump from paying rent to paying a mortgage (home or duplex ownership) can be a great one. But that step can be much easier by buying a duplex. Why? It is easier to qualify to buy a duplex. You see, when you decide to buy a duplex, your income has suddenly jumped 20% or more. The source comes from your rental income stream from having a tenant. For example, if you earn $35,000 a year and your tenant pays you $700 a month rent, than that equates to an additional $8,400 a year to your income or about 24%. You effectively will be able buy a higher priced home.

The simple act of not paying rent any longer means you are no longer throwing money away each month. It now "counts" towards all the benefits mentioned so far in this chapter. Buying your own duplex is a great alternative to buying a single family home because you kill two birds with one stone. You stop paying rent and move into your own home and you make an investment to start an income stream from rental property.