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Updated over 2 years ago on . Most recent reply

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Mark V.
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Can You Purchase Duplex with 2 owners?

Mark V.
Posted

Hi There,

I was talking to a friend of mine who was wondering if it was possible to purchase a Duplex together where they would get one unit and I would get another. Is this something that is possible?

How does it work when it comes to your debt-income ratio? Would you both have separate mortgages for your half or do you have one mortgage and its reported on your credit report that you have a mortgage for the full amount of the duplex?

Figured getting a duplex in Austin for say $575K split in two is ~$287K per unit and way more affordable. If something like this works, I can probably do another deal with another friend I know out of state who would likely agree to manage the property for me. The 2nd property would likely be purchased via a self-direct IRA. The one in Austin would be purchased traditionally either via FHA or 5% down.

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You would both own 50% of the whole property….you would not own one unit “separately” each….it is One property. 

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