Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago,

User Stats

100
Posts
58
Votes
Allen Clark
  • Investor
  • Seattle, WA
58
Votes |
100
Posts

Bought 1/2 of the duplex should I buy more?

Allen Clark
  • Investor
  • Seattle, WA
Posted

In December I bought 1/2 of a duplex in urban Seattle. . 

Purchase price: $350k
Size: 1,100 sq ft
Mortgage + taxes + insurance: $2,000/month 
Down payment: 30% = $105k
Age of house: 8 years
HOA: $0 - no HOA at all
rehab $$ spent: $0

Beginning in January I have been getting $2,750 in rent and I am sure I can get more next year when the tenants flip. I will go for $3,500 and see if I need to move down. This house has been brain dead easy and it has been cash flow positive from day 1.

We have the 1/2 of one house. When these were built the builder constructed 4 duplexes total. All the duplexes have no HOA for a total of eight units. I've talked with the owner of the other 1/2 of mine and I am set to buy that if we can come to terms. He is looking to sell in the summer of 2016.

My question to you is should I buy more of these? There are eight total and the prices are rising here (but so are rents). I can see why I would want to own both halves of my house so I can take care of building maintenance. If I buy parts of the others is the lack of diversification something to worry about? The units are right across the street from a small university and within walking distance to Capitol Hill ( very trendy) International District (like China Town), sports stadiums (go Seahawks), etc. This locations rents very well. 

Should I be looking to ultimately buy all eight or is that too much net worth to pack into one small street?

Loading replies...