Interested in real estate investing? Buying a duplex may be a good option for you to consider.
The unique thing and what we like most about investing in a duplex is that it gives you a few additional options as a real estate investor.
You can chose to owner occupy one of the units while collecting rent on the other unit or you could rent out both units. Both should provide some additional cash flow.
If you chose to owner occupy the unit this extra income can help you live cheaper while paying down your existing mortgage. And if you chose to rent out both units you can stockpile the extra income for a future investment while having someone else pay down the mortgage.
Another benefit to purchasing a duplex if you’re a first time home owner is that it may increase your borrowing potential since you can often use the rent as income to qualify.
And live there or not owning a duplex comes with newly added tax benefits as a Landlord.
Want to learn more, we’d love to help.