Advice On Duplex Vs Single Family
I currently own 1 single family residence that I have leased out with a small positive cash flow, and and looking to either buy another single family residence for myselt to live in, or a duplex renting the other side out. The single family is just now being built, and should appraise out apx 25-30,000 more than purchase price due to low construction costs. Home prices in this area are skyrocketing. I want to begin investing in more real estate, so I don't know if I should pass on the single family residence and invest in a duplex, or if I should buy it and turn it in a few years. Any advice?[ Edited by dtigner on Date 06/17/2004 ]
How assertive do you want to be?
Can you leverage the equity in the current SFR and buy the duplex and the SFR or 2 SFRs?
MIght be too much of a streach.
SFRs (here at least) do have a higher appreciation rate than a duplex.
Hope that helps.
That might be a bit of a stretch, I might be able to do the other one in a year or so. Thanks,
Nothing too leveraged.
So long as you can sleep atnight