We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
June 19, 2021, 04:06:46 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
June 19, 2021, 04:06:46 am
Home Help Search Calendar Login Register

Author Topic: Investment question. Duplex OR Single residence?  (Read 3876 times)

Offline denisb

  • Member
  • *
  • Posts: 2
Investment question. Duplex OR Single residence?
« on: May 25, 2004, 09:09:41 pm »
1.  Does anyone have advice or experience about the St. Louis market?

2.  The duplex's in the area seem hard to find.  In some areas they are very low income and seem "tough" to manage.  In others it seems like the area is going up so fast the prices are too expensive.  Should I consider buying a house to rent out?  Pro's and Con's?


Offline Hal Roark

  • Author
  • Member
  • *
  • Posts: 15
    • Learn the Secrets of Successful Landlording
Re:Investment question. Duplex OR Single residence?
« Reply #1 on: June 20, 2004, 10:52:39 am »
Denise,

You never lose by knowing more.

Landlording is a time honored investment strategy that will make you rich... but, you have to know what you are doing.  

I recommend that you work on improving your knowledge and skills first, and then look to invest.

As far as the St. Louis market, I have no experience there.

Duplexes are great, in that one side often can pay much, or the whole, note.  Thus, when you have a vacancy in one unit (half the rental), you still have income coming in.

A single family home is the Rolls Royce of rentals: the lifestyle experience everyone wants.  They are the easiest to rent, and sell, if you need to.

First work on building more general rei information.  Then look into the particulars.

Hope this helps...

Hal
www.landlordingsecrets.com
How to Make The Biggest Profits Landlording to Niche Tenants
Come visit us for free articles, audios, online mentoring, active newgroup, and much, much more...

Offline Bud Branstetter

  • Member
  • ***
  • Posts: 186
Re:Investment question. Duplex OR Single residence?
« Reply #2 on: June 27, 2004, 11:53:12 am »
To add what Hal has said. Single family home are much more liquid and desirable to most tenants.  In turn duplexes and multifamily will generally give you a higher return on you equity.   Is your goal cash flow or wealth? Is your job stable in the St. Louis area?  A rule of thumb is that overhead(taxes, insurance, utilities, maintenance and mangement)  is about 40% of the gross income.  Do you plan on doing the maintenance and management?

 




SMF 2.0.15 | SMF © 2017, Simple Machines