Author Topic: What are your requirements for a Duplex?  (Read 2682 times)

atribecalledquest

  • 5 O'Clock Shadow
  • *
  • Posts: 66
What are your requirements for a Duplex?
« on: March 26, 2013, 10:05:57 AM »
.
« Last Edit: January 12, 2019, 03:10:01 PM by Kevin »

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28060
  • Age: -999
  • Location: Seattle, WA
Re: What are your requirements for a Duplex?
« Reply #1 on: March 26, 2013, 10:40:25 AM »
To directly answer: I'd be looking in the range of the gross rents monthly being 2% of the purchase price (i.e. it should still be a good rental under the assumption you don't live in one of the units.  Then moving into one of them is fine.)

This type of question leaves so much to be desired though.  There is a lot of individualized analysis that needs to happen.  Location, quality of tenants, cap rates in that particular area, quality of building, current occupancy, etc. etc. etc.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with two kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Seeking the Brass Ring

  • 5 O'Clock Shadow
  • *
  • Posts: 44
  • Location: Madison, WI
Re: What are your requirements for a Duplex?
« Reply #2 on: March 28, 2013, 08:15:11 AM »
Kinda seems like you've answered your own question.  If covering the mortgage with rent is your goal then you've got something to shoot for.  Planning to live in one half of the property changes the equation completely.  When I look at properties the big issue for me is making the cash flow 'worth it'.  I'm not as worried about what the initial investment is because I'm planning to hold the property for a long term (20+ years).  A duplex that provides $150.00/mo after expenses is not worth the time.  One that gives $600/mo is worth it.  If you've found one that satisfies your basic idea then you can start looking at the other issues of location, upkeep, etc.

SunshineGirl

  • Pencil Stache
  • ****
  • Posts: 749
Re: What are your requirements for a Duplex?
« Reply #3 on: April 03, 2013, 09:26:41 AM »
"Live free" is a good goal. You may have to buy a triplex or fourplex to make that happen. And buying in a neighborhood with walking amenities, preferably as close as possible to a university, is a very good idea.