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Updated over 5 years ago on . Most recent reply

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Erika G.
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Should I go for a triplex as my first investment property?

Erika G.
Posted

First time buyer, in the Los Angeles area. Looking at a Triplex costing $670K 5bd 3bth. I am super nervous to pull the trigger because I'd have to use all of my savings for the down payment. I have who to loan me a bit more cash for reserves, but I am wondering if this is too risky?

2- 2 bedroom 1 Bath

1- 1 bedrooom 1 Bath

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Nabil Suleiman
  • Real Estate Agent
  • Los Angeles, CA
299
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595
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Nabil Suleiman
  • Real Estate Agent
  • Los Angeles, CA
Replied

@Erika G.

I think you should look at the numbers whether its a duplex, triplex, or quad. If you know that the units will all be vacant at purchase, and you can rent out two of the three that covers either all, a majority or if possible, cash flow from it then you can live for free in the third. If you can justify paying for some of the mortgage living in the third because its cheaper than renting than that would also be a worthy choice. 

Make sure your numbers include all hard and soft costs, and that you have money still left in the bank for unexpected occurrences in construction. 

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The CSSA Group | Nabil Suleiman
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