I told my real estate agent that I was interested in investing in a duplex or triplex and she flagged a property that has a 2/1 SFH with two 1/1 SFHs on the same lot. I'd basically be buying three houses. Assuming the setup is legal I think I could get great cash flow. I ran the numbers the same way I would for a triplex except that I adjusted for higher maintenance costs since I'll be dealing with three separate homes (three roofs, three heating/ac systems, etc.).
Is there anything else I should be thinking about when making this analysis??
Thanks in advance for your thoughts.
One nice positive is that the homes, being separate, are ideal to enable all of the expenses to be passed-on to the tenants. (Lawn care, snow removal, utilities)
Any way to turn those 1/1s into 2/1s?
Good point! Unfortunately this one slip through my fingers, sold within hours of being listed. After a little more research it looks like these 1/1s are pretty common in people's backyards, they are pretty small so I'd have to build out to add another bedroom. Def something worth thinking about.
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