Is there any specific advice you would have about buying a duplex in the Atlanta area, or building one if that is possible/feasible?
Also, many duplexes that i see for sale already have tenants. Not sure how to navigate buying one specifically to live in. I'm not seeing many great options online.
I'm working with a few clients right now who are interested in a similar strategy. We've found the traditional "live in one half and rent out the other" is a little bit more difficult to accomplish these days but we've had luck pivoting to buying a single family home with an in law suite with separate access. This accomplishes the same thing, but it leaves more of the house available to lease so you can get higher rents and better cash flow.
Hope that helps. Feel free to reach out if I can help! (Contact info in bio)
@Doug Davis, here's an example we're all referring to, link. Talk about a sweet house hack deal.
Ok thanks. I see it says this: "Basement has 2 separate apartments; one studio and one 2 bedroom"
To make sure I understand, does this mean that this has three units? The main one and two in the basement?
I'm not sure if I would know how to look for something like this. A Realtor may know, but I would like to be able to find them myself as well.
Be careful with "basement apartments". It will be a hard sell for quality renters if the "bedrooms" and living area do not have windows, walls are too low or it overall feels dingy. Also, different counties and cities have different rules for house hacking. For example in Dekalb you must live in one of the units. Others have regulation and limits on how many people can live in it.
Ok thanks. So, in Dekalb, if the owner moves out, there's no way to legally rent both units separately?
- Doug
That is correct. If it is zoned for single family you cannot legally rent both units in Dekalb county. You must live in one of the units.
You can in Cobb county, however they have other occupancy rules.