– Dom Guerra, 27, rented an apartment in a duplex near Cleveland before buying the duplex from his landlord in 2024
– He is now a first-time homeowner and landlord, but does not plan to raise his neighbor’s rent
– Guerra used a VA loan and a program for veterans, paid $0 down, and plans to eventually buy another duplex to rent out for cash flow.
Dom Guerra, a 27-year-old IT specialist and veteran, purchased a duplex from his landlord where he had been renting an apartment. The deal came about after other home-buying plans fell through, and he wanted to evade potential rent increases and moving struggles. The duplex is located in Parma, Ohio, and consists of an upstairs and downstairs unit in one building. Guerra decided to make an offer on the property, ultimately buying it for $210,000 with a VA loan. He aims to maintain the existing rental rates for himself and his upstairs neighbor, even though they are below market value. The duplex also qualified for a mortgage discount rate program aimed at military veterans and public-service veterans, providing incentives for the purchase.
As a first-time homeowner and landlord, Guerra understands the added responsibilities and challenges that come with the role. He acknowledges the need to comply with codes and ordinances, manage maintenance for two separate units within the property, and handle all the financial aspects involved. Despite his initial intention not to focus on making money from the property, Guerra plans to upgrade and improve the duplex over time to bring its value up to market standards. He also hopes to potentially invest in another duplex in the future to create a cash-flowing asset. Through this experience, Guerra is learning from the previous landlord’s approach and aiming to provide value to his tenants while maintaining a steady housing situation for himself and his daughter.