Ok, rapid fire time (think this shall be fun). SFHs or Duplexes in the Indy market, your preferences and why. GO!
Only vaguely familiar with the Indy market, I have in-laws in the area. In general I prefer multi's. I get more units and better returns with easier management by having everything in one place.
Oh yes, Indy duplexes are fun!
On paper they DO look so sexy...but after a few months of owning one comes to realize that they are mostly money pits [IMHO].
I owned 22 doors at one point a few years ago. All turn of the century built and [I thought] in decent shape.
Just the age alone of the structure can be a maintenance nightmare. Then add in tenants that just flat don't care and the frequent vandalism - you've got a trip to the ER just waiting.
In addition, you will only be able to sell to another investor. Unlike @Brandon Turner , no one actually "lives in one side and rents the other" here in the Midwest.
I eventually sold them all and have now a nice portfolio of SFH homes. Nothing older than 1945 and less than $700 rent for me.
Of course there are exceptions but overall, Indy duplexes can be a "challenge".
This is just my free advice [and it's worth every penny].
I hope that helps.
We've been converting doubles into single family homes.
A 2/1 duplex is in VERY low demand... But a 4 bed 2 bath single family house is in HIGH demand.
Also, its good for neighborhoods. More SFR less cramped doubles.
Ive never understood why people think a duplex is supposed to provide a better return that a single. 2 words... Diminishing returns.
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