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Single family home, duplex or triplex?
I need a little help trying to figure out which direction to go. There is a single family home for $140,000, but the homes around it show that if you fixed this home up, it would be worth around $285,000.
There is a duplex for $206,000. Doesn't need a lot of work. Rent on one side would be roughly $1300. The other side would be occupied. There is about $10,000 worth of equity in that deal.
Last is a triplex. No work needed. Its about $330,000. No equity. Two of the units rented out would bring in about $2000.
All these buildings are in the same area. If im trying to put myself in a position to buy more homes in the very near future, im thinking the single family home looks best, but maybe im wrong. I was just hoping to get some input from you guys since most of you are very experienced with this. This would be my first home I've ever purchased.
Thanks a bunch guys!