need some advice, keep looking for duplex to HH or single rental?
hello everyone,
i have been looking for duplexes in philly area and put in many offers in the last 3 months but got beat out by cash buyers. it's been 2 years total since I have been looking, wondering if I should invest in a single-family property but have some concerns on which method is best for long term growth & value.
little about what I am looking for, duplex 2+2 in a C+ area that can rent for 1k to 1200, price under 315k using 10-15% down and requires little renovation if needed. Will be using 7% vacancy, 6% for each repair and CAPEX. I will not need a PM as I could handle this one to start on my own. Using 70k cash, pre-approved, and 800 Credit score, I hope to achieve the goal of getting $150-200 per door after house hacking one year after living in the property.
or i can invest in a single-family unit under 250k with 20% down and hiring a PM, not sure how much i can profit after taking into effect all the expenses. Can anyone give me some advice or feedback? i have read every real estate investing book out there as well and little confuse on which is the best method.
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