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All Forum Posts by: Asa Valentine

Asa Valentine has started 1 posts and replied 4 times.

Post: Contemplating building duplex. Build or buy?

Asa ValentinePosted
  • Rental Property Investor
  • Lincoln, AR
  • Posts 4
  • Votes 4
Thanks for the help, Dan!
Originally posted by @Dan Handford:

@Asa Valentine It would be much cheaper, due to cost of building supplies now, to just buy an existing duplex.

Post: Contemplating building duplex. Build or buy?

Asa ValentinePosted
  • Rental Property Investor
  • Lincoln, AR
  • Posts 4
  • Votes 4
 That is something i haven't considered, thank you.
Originally posted by @Diana Muresan:

You could purchase another duplex and you can fix it up with a renovation loan FHA 203K, you will only need 3.5% downpayment for the total acquisition and renovation costs. You would need a much bigger downpayment for a construction loan on a duplex, 25%-30% downpayment

Post: Contemplating building duplex. Build or buy?

Asa ValentinePosted
  • Rental Property Investor
  • Lincoln, AR
  • Posts 4
  • Votes 4

Hello, new member and first time posting. I'm interested on hearing the pros and cons of building a duplex. I understand on a new unit there will be limited repair due to the fact that everything is new, so in that regard what would i have to deduct in taxes? Would a sheet metal duplex rent in town for premium rent? How would I take out a loan and what would that look like? I currently own a duplex, living in one side and renting out the other, so I'm a little experienced in the process of getting those units rented. So I'm not worried so much about that. If you have any questions or comments please express them, thanks in advance.

Post: How did you know you were ready to start?

Asa ValentinePosted
  • Rental Property Investor
  • Lincoln, AR
  • Posts 4
  • Votes 4

Good question, I became almost addicted to youtube videos, and podcasts before I bought my duplex. Of course there was uncertainty with something new, but in my opinion the best way is to jump in feet first and trust yourself and decision making. Good luck!