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24 September 2024 | 4 replies
Along with building SFR they are also building duplex, three units, and quads.
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25 September 2024 | 7 replies
I've been here since 2007 (but only started investing in SFH recently) and have definitely noticed that when I see a duplex, tri, quad, 8+ they all seem to be in rougher neighborhoods...that being said, I myself definitely want to find some and may end up relying on off-market deals to find what I want.Let me know if you learn anything new about multifamily here in Memphis, I'd love to understand it more as well!
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24 September 2024 | 6 replies
Thank you Ned, that is exactly right, we actually check a condo/townhouse about 2 weeks ago, the thing was a condo with a basement, I cannot tell if it was a condo or townhome, anyway, the ceiling in the first floor was bowing, the 2nd floor, one of the bedroom was sinking, could not tell how this damage was done but the walls came apart from the floor, you could see the roof of the unit bowing inwards towards the structure a bit, and their "general contractor" estimate that for 5k they could straighten the property and level everything, even 1 window and 1 door looked so uneven that you would think there was something wrong with your eyes...5k for structural damage, good luck with that one, we ran as far as we could from that....but we have seen they do inflate their ARV, since we learned the hard way , we go through these deals with a magnifying glass, I knew I was not so picky, numbers do not lie.Another thing that caught my attention, which I do not know if I am overly suspicious now that I am older, but they want to get the closing for us at the same time/day they are getting the property from whoever they buying it, which it seems to me they try to save on the closing by having a "dual" closing when in reality is just 1 closing and we are the one paying for it...I do not know there are few things that do not click right with this folks.
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25 September 2024 | 22 replies
In 2018 I purchased my first duplex, then in 2020 I house-hacked my next investment.
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24 September 2024 | 12 replies
To get started, consider VA loans, which offer 0% down and no PMI, and house hacking, which involves buying a duplex or triplex and renting out the others.
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24 September 2024 | 2 replies
Rent-to-Income Ratio: 29% Rent-to-Price Ratio: 0.48 Looking at single family and possibly duplexes.
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23 September 2024 | 21 replies
Either a duplex or a second unit property depending on how private it is.3.I have around $30k saved and live in California.
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25 September 2024 | 2 replies
Unlike DSCR (Debt Service Coverage Ratio) loans for smaller multifamily (i.e. duplexes, fourplexes, etc.) that allow market rents (not actual rents) to help determine if the property covers the mortgage payment, commercial loans look at what is happening today.
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23 September 2024 | 5 replies
This may affect value or time required to sell.7) Adding an ADU does not make the property a duplex.
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19 September 2024 | 6 replies
Is that interior lot line assumed when a duplex is built, or is some kind of formal process needed?