What is your favorite investment property of all time? Which property was your favorite to own or work on and how did you come to acquire it?
I like duplexes because if one side goes vacant the other side often pays the mortgage. This is one of my 2nd deals and well worth the investment, and now is my cash flow cow! No I didn't buy the property right (nor lived it as owner occupied), but have owned it over 7 years now, and finally with the increase in demand, the rents are pushed up to market levels and the neighborhood is turning around and the appreciation has gone up about $50K within the last year or so.
I acquired the property with 20% down which was difficult to do. Additionally, I have self-managed the property and did most of the repairs and maintenance myself. All in all, a great way to start and get comfortable with being a landlord!
I like the vacation home in the mountains, I bought a few years back. Of course we bought it distressed for a steal. We use it a few times a year, rent it out a lot of the year. It actually makes a profit.
I guess this would have to be my favorite and I actually got some media attention through the deal.
Please see a blog I wrote for Bigger Pockets about the deal.
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