Investing in Multi-Family Properties
Many first-time real estate investors start with a duplex to begin building their real estate portfolio. A well-maintained duplex can generate income for their family for years to come, and eventually be an asset paid for with other peoples’ money that can be handed down to the next generation. There are many compelling reasons investors start with a duplex, but here are just a few:
– Duplexes can be financed with the same conventional mortgage loans you can get on a single-family home.
– Many investors like to live in one side and rent the other out. Sometimes that second unit can cover the entire mortgage payment allowing the investor to live for free.
– Buying a duplex is a good way to dip your toe in the pool to decide if real estate investing is right for you.
– If you decide to sell, a duplex will typically sell faster than larger properties with more units.
– With two leasable units you’ll almost always have some income coming in even if one is vacant. With a single family home your income goes to zero when you lose a tenant.
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