What is a better buy as a first time investor a single home/row home 3 beds or a duplex side by side each side 3 beds?
Not that it matters but I am a stay at home mom gathering money to invest. A duplex requires 25% down and single 20%. A duplex is about 120k whereas a single is 60k. It is much quicker to get one than wait for two...is the patience worth it?
@Anna Domzalski it is always a matter of personal preference. However, think of this: if you have 1 unit vacant in a duplex, it is 50% vacancy. If you have your SFH vacant, it is 100% vacant. When you're buying 2 SFH, you have 2 roofs to replace. When you're buying Duplex, you have one roof to replace. I can go on with more examples, but I think you get the gist. Be creative when it comes to financing and think of how else can you cover the down-payment.