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Updated over 11 years ago,
Splitting Duplexes as a "low cost" entry/accelerate savings?
This may need to go under the dumb question category.
I understand Duplexes are not the ideal long term investment, unless you control the street or are in relative isolation amongst houses, etc..
I submit to needing to save a large amount of cash to really establish myself in MFRs (4) and eventually commercial. But I am wondering if "flipping" a few duplexes (side by side), selling half for my purchase price + repairs and renting the other half might be a good way to accelerate the savings process.
I have seen this done and my Credit Union would require 2 loans to buy one duplex anyways, so why not?
Can anyone give me a practical reason as to why this would be a bad idea (just to get started in the business)? I will accept Zero replies as a positive response. : )
Thank you and best wishes to you all.