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Updated over 10 years ago on . Most recent reply

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Rick Jones
  • Pennsburg, PA
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Thinking about buying both halves of a duplex seperatly. What are the cons?

Rick Jones
  • Pennsburg, PA
Posted

So i've been looking to buy a multi-family property in my town. I've recently come across a duplex that both halves of are for sale. One is a lender approved short sale and the other is priced relatively low also, i think to compete with the short sale price. The sum of the price of both of these properties is less than that of other multi-family properties in the neighborhood. Running the numbers it looks like it could cash flow pretty well. What would be the cons as far as buying both of these properties separately? I would be paying cash for both, would i be able to refinance them into one mortgage? Thank you guys for your help!

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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
ModeratorReplied

@Rick Jones 

Each half likely has its own tax id / property id, so you may have difficulty trying to roll then under a single mortgage.  If you have a relationship with a smaller local/regional bank or credit union, you may be able to get a portfolio mortgage to cover both halves of the duplex.

  • Roy N.
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