Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Do I Purchase A Duplex Or Resign My Lease?
Seems like a simple answer, but we have a couple of complications:
1. Lease term ends on December 31.
2. We don't have funding lined up, nor do we have a property under contract- just a plan to purchase one.
3. We could stay in in-law's house during transition period while securing home and funding, but with a two-year old, spacing would be tight and we'd have the added expense of a storage facility for a few months ( in spite of saving in rent).
4. I am having surgery in a week and will be unable to help with the move for at least one week!...maybe more.
We definitely know the benefits of trying to get a duplex, but don't want to rush into an ill-advised position because we don't want to have to break our lease in the middle of the new lease term when we find a great property.
Any advice on this dilemma is greatly appreciated by us newbie investors.