As professionals, we usually don’t recommend multifamily properties as a “starter” investment property for beginners. But that is not the case with duplexes. Nevertheless, many still wonder if a duplex is an excellent real estate investment. To help you and other new investors answer this question, today, we will discuss the top advantages of investing in a duplex for sale! But first, let’s explain what a duplex means.
What Do You Mean By A Duplex House?
A duplex is a type of investment property that falls under the residential real estate category. Though duplexes are technically multifamily homes since they have two units, they are usually not big enough to qualify as commercial property. Now, let’s examine the top advantages of buying a duplex.
They Are Affordable
While many duplex or multiplex properties may seem a little expensive up front, they can quickly pay themselves off. They are affordable since you purchase two properties under a single payment. Another bonus is that you will have only one loan to manage, unlike if you bought two single-family properties. Some loans for homeowners can also help you bring down the total upfront cost of a property. For instance, if you get a loan from the FHA (Federal Housing Administration), you will have easier credit requirements and a lower closing cost. So, never let the initial cost of a duplex make you nervous.
An Ideal Start For Real Estate Investing
Have you considered purchasing a rental property and becoming a full-time investor? After all, who does not want to achieve financial independence and retire young? Well, we are here to tell you it’s possible.
The reality is that real estate is one of the most proven ways to become rich. Rental real estate easily beats the stock market by two or even three times! Consider your duplex purchase as an introduction to investing. You get to live right next to your tenant and monitor everything. It allows you to gain experience managing properties while getting paid for it. At NB Elite Realty, we can help you better understand your investment and guide you toward making the best decision for your future.
You Will Earn More Rental Income.
Compared to single-family properties, a duplex will help you generate more rental income once you rent out both units. A duplex for sale can also bring in more money than other properties like an apartment since your tenant gets to have a driveway, backyard, and maybe even a lawn.
Not to mention, many tenants will be more than happy to pay extra for the added privacy they get in a duplex. If you want to start making money in real estate, it’s always a good idea to start with a duplex. If you want to start finding and analyzing duplexes in the market today, feel free to speak with our agents.
These are only three reasons why a duplex house is a decent investment for any new real estate investor. While there might be a few challenges, you can easily avoid them by working alongside a seasoned real estate agent. Our experts can help inform you about all potential pitfalls beforehand so you can have time to adjust your strategy accordingly. So, to answer your final question: is a duplex an excellent real estate investment? If you wish to pay a low down payment, make more rental income (eventually), and start investing in multiple properties within a few short years, then yes! A duplex sounds like an ideal real estate investment for you.
Want To Get Started? Contact NB Elite Realty Today!
Are you looking for a duplex for sale near you? or maybe you are trying to sell one yourself. Either way, NB Elite Realty is here to help! Our experts have spent years in the field and can quickly help you get your investment strategy on track. Our founder broker Nebo Bandovic has years of experience dealing in multi family properties and has trained all out agents to offer exceptional service to their clients.
Our agents are spread across the country and can quickly help you find buyers or sellers whenever you need them. Many of our agents are also experienced investors, which means you will have access to their professional insight. Want to get started? Click here or call our team at (832) 241-9171 for more information.