Updated almost 11 years ago on . Most recent reply
duplex or fourplex
Ok I just wanted to feedback from you guys. Is it dumb for me to be considering going with a duplex as a first investment in the sense that I won't be actually making any money per se? the mortgage and taxes usually come to around $1000 for a duplex and I could rent the other side for $950. I would be living for free/MINIMAL amount and of course building equity.
Then there are fourplexes. The mortgage for a nice one i've found is around $1400 and living in one unit I'd bring in around $2100-2200 so i'd be building equity, living for free, and profiting much more with the fourplex (600-700/month), however less privacy and much more upkeep.
I also have a large amount of money in the bank to offset anything that may happen (repairs, vacancies, etc).
The main thing is I am about to start going to college full time as a single father (my mother will be able to help me and watch my daughter for free so that is a great help) so that is why I learn thinking of a duplex, more privacy, more space, lower beginning learning curve.
thoughts?
Most Popular Reply
What's the exit strategy? If you plan to eventually move out, but hold the property for a long time then I'd definitely go with the fourplex since it will provide more cash-flow. I wouldn't be too concerned about the taking on 4 units versus 2.