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With the current housing market trends - combination of relatively low purchase prices and low mortgage rates - a duplex is a great way to enter the investment property market. If the owner intends to occupy one unit and rent out the other, the income from the second unit offsets a major portion of the mortgage payment. Additionally, the equity from both units accrues to the buyer.
Factors to watch include:
Today's housing market trends reflect favorable pricing. If today’s purchase is in a good neighborhood; and maintenance is good; turnover opportunities in four or five years will be plentiful. If the owner is ready to upgrade his own life style, investment income can be doubled by renting out both units. The investment property will still have the advantages of the owner occupied status: low down payment low interest rate low purchase price per unit. Also the owner will have had a few years experience in “on-site” property management, very valuable in a more demanding “distance” management situation.
Current housing market trends make the duplex an excellent way for first time buyers to start accumulating investment assets if he is prepared to:
Taking advantage of housing market trends by investing in a one-half owner-occupied duplex can be financially rewarding over the long term. Learn motre about the FHA 203k as an option to make this happen. Download "The FHA 203k Survival Guide" at the button below.
(duplex: Flickr user David Quigley)
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