Posted by Jeff on April 25, 2007 at 17:51:45:
Do you think it’s safe if i get a fourplex, or should i start with a duplex just to begin.
Investing in duplexes/triplex/fourplex. - Posted by JEFF
Posted by JEFF on April 14, 2007 at 12:00:04:
Is duplexes/multifamilys a good way to begin a real estate career. I want to occupy one unit and rent the others. To my understanding FHA offers special loans for owner occupied properties. any information would be helpful.
Re: Investing in duplexes/triplex/fourplex. - Posted by Tim
Posted by Tim on April 22, 2007 at 14:49:53:
My very first property was a duplex, and I did what you are considering. I bought it, moved in, and moved less than a year later. It was a huge advantage having owner-occupied rates on the property.
Exactly what we did - Posted by Jay(OR)
Posted by Jay(OR) on April 15, 2007 at 14:47:01:
When my wife and I were 20 and 19, we bought a 4plex. We lived in one unit, and collected rents on the others so we were paid a couple hundred dollars per month just to live there.
Three years later- we had paid 152,000- and we sold for 294,500. Used that money to buy a couple single family homes, one that we currently live in and a rental. We are working right now on getting our next property.
The things I’d look at are which property will increase in value, and remember that a 4plex will give you more help in paying the mortgage every month (collecting 3 rents), and usually cost less per unit than SFH’s and duplexes.
The only problem living in one unit is the tenants do not hesitate to come tell you of any problems. To me it was never a big deal, but something I thought you should know.
Good luck, let me know how it turns out for you!
Yes - Posted by Jimmy
Posted by Jimmy on April 15, 2007 at 12:48:26:
1-4 unit residential properties is all I do. and living in 1 unit and renting the others is a great idea. I wish I had done this, because it would have getten my in the biz a lot sooner.