should i buy a duplex


Hubby and I are considering purchasing a duplex, renting one half and living in the other, at least that's my idea. Hubby wants to buy one, keep.

Another benefit of buying a duplex is the fact that you can usually count a portion of your future rental income in addition to your own income to qualify for a mortgage. This increases your borrowing potential, says Reed. As a result, you may be able to afford a duplex that is in better shape or in a better area. You can reap some tax benefits.

We ended up buying the property for $85,500. Randomly this is obviously very close to the purchase price of my first house! However, since the property had been empty for over a year and needed some major cosmetic updates we spent approximately $15,000. We secured a pretty standard real estate investment loan putting down 20% in cash.

It may seem impossible to buy a duplex or multi-family unit with your budget, but the reality is it might not be as hard as you think. According to Anthony Lococo, Vice President of Cornerstone Mortgage, "If buying an owner-occupied duplex, you would definitely be able to use [the potential] rental income from the second unit" to help you qualify for the purchase.

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Or buy an attached duplex in a Sun City West complex that hosts bunco tournaments. Pout. Say, “I told them they should’ve.

When my husband and I-aspiring landlords that we are-found out we could get an FHA loan to cover the purchase of a duplex, triplex, or fourplex, we thought we had it all figured out. But four months and a dozen offers later, we were still discovering surprises right and left. Here’s what we.

Get Rich and Avoid Taxes with Duplex Real Estate Investing. Because you can buy a duplex with traditional financing if you live on one side.

Unless handled properly, these costs can end up eating away at your rental income. There are a couple of tips you should keep in mind in order to avoid budgeting problems. Firstly, I would disrecommend buying a duplex that is at the upper limit of what you can comfortably afford.

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