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Updated almost 10 years ago on . Most recent reply

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Darrell A.
  • Carteret, NJ
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Buy a two family house vs single family townhouse

Darrell A.
  • Carteret, NJ
Posted

Hello BP,

First, I been reading around for a while and I love this site! Great people with great information. 

I'm looking to move from renter to owner. My question is should I buy a two family detached home or buy a single family attached townhome. I have two properties I'm looking at but not limited to.

The two family home is 2 x 2 bed single bath property with full basement and two car detached garage for $309K. Possible rent for the smaller apt is approximately $1100/month. The tax assessment for 2014 was $186K. Zillow estimate is $243K

The townhome is 3 bed 1.5 bath with a garage for $199K. The tax assessment for 2014 was $155K. Zillow estimate is $190K.

What I'd like to do is to stay at either for 2 years (maybe) and then maintain the property as a rental. All opinions are welcomed.

Most Popular Reply

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Jeff Copeland
  • Real Estate Agent
  • Tampa Bay/St Petersburg, FL
2,065
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Jeff Copeland
  • Real Estate Agent
  • Tampa Bay/St Petersburg, FL
Replied

Also, check out http://www.biggerpockets.com/renewsblog/wp-content/uploads/2015/05/7-Years-to-7-Figure-Wealth.pdf for some ideas about multi-family investing.

  • Jeff Copeland

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