This advice applies to any investor with any investment. True of all rentals in an Army town, but multi-families especially.
Multi-family rentals are more likely to have higher tenant turnover, as few rent a fourplex or duplex with designs of staying in the area long (probably no longer than their 3-5 year station at Ft.
#Dual family homes upgrade#
Multi-family rentals benefit from the economies of scale, tending to have higher returns than single family rentals – the more units the better! In fact, the 'big' investors often eventually upgrade from 4 unit fourplexes to apartments with many units. Sellers are not motivated, and most buyers can expect to pay full market price, more often than not. There are not often (anymore) distressed multi-family owners in the Fort Hood market, ever since the market rebounded from the 2010 lows. There are fewer choices in the Fort Hood area – none with four bedroom units, for example, or in certain school districts.įor owner occupants, the rent from the additional units can help offset the mortgage, or, especially if fully rented, pay for the mortgage completely. When you're done living in it, move out and you now have a full rental property investment on a great loan! Passive income, at that – the best retirement account. If buying a multi-family with owner occupant loans, you have to live in it! Depending on you and your family's needs, it may accommodate you, or may not.
That means that you can buy a fourplex as your own home, just like you would any other home, using VA, FHA or any traditional type of financing. You can buy multi-family homes with up to 4 units without having to use commercial lending.
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