Updated almost 6 years ago on . Most recent reply
Duplex average costs?
What are the average prices you all are paying for duplexes? Also how do you fund this? I’m new to real estate and I really want to purchase a duplex in New Orleans where I currently live but I don’t know the first step in finding funding for this.
Can anyone help me?!
Most Popular Reply
I am not sure what type of loans you are referring to and lines of credit are not meant for long term buy and hold scenarios. If you plan to purchase a double and use it as rental property you will be using a conventional mortgage and looking at a much higher down payment of 25%.
Give this a read: https://www.fool.com/millionacres/real-estate-financing/articles/investment-property-down-payments-how-much-will-you-need/