Investing in Duplexes

[Alexis York]

I am currently looking for a separate metered duplex in Florida, Texas or Ohio. 

Anyone have any tips or recommendations? People keep telling me not to buy any time soon, but I think as long as you get a good deal, it is always the right time to buy! 

Thank you so much in advance!

[Patricia Steiner]

There are opportunities in every economic cycle so advice pertaining to market timing is just not valid. Empirical data supports it.  In Tampa Bay, our sales continue to increase month-over-month while listings continue to decrease and rent price is increasing year-over-year.  Having said that, there are no steals and deals here...prices are not for the faint of heart but the ROI is solid due to rental (as well as housing) demand exceeding supply with no end in sight. I recommend:

1. Instead of focusing on the property type - a duplex - buy an opportunity. If there is a SFH or a triplex or vacation rental that is a great buy, get it. Focusing on property type can result in you missing great opportunities that could provide even greater return.

2. Choose a market that you would enjoy visiting/vacationing so that going to your property is as much business as pleasure.  

3. Go in markets with high demand, high growth, and year-over-year price and property appreciation.  Owning doors in a so-so market is not a wealth building experience.  

Hope this helps...