Recently we’ve had the pleasure of listing 2 great Burlington VT duplexes (click photos for link to details) . In such a HOT rental market these are PRIME INVESTMENT properties. Both the seasoned investor and the individual looking to owner occupy will take interest in these properties.
If you are looking to start building equity owning a duplex offers the perfect blend of both personal and business investment. The clear advantage over single family home ownership is the income revenue stream that a duplex generates. Here are 4 essential reasons to consider purchasing a duplex:
#1– Own a home AND have some cash flow!
A duplex allows you to occupy one side and gives you the ability to create a cash flow source. Investment and utility all in one.
#2 – Home equity FASTER!
Use your rental income to leverage your mortgage payments. Use the rental income as an extra monthly payment on the mortgage and effectively half your mortgage term. You’ll reduce the interest paid and accelerate your home equity- which can be borrowed against if needed.
#3 – A unique living situations for caregivers
If you are in a position to take care of someone in your family who needs close supervision, but both parties prefer a bit of privacy and space a duplex is a simple solution.
#4- Future rental options.
After owner occupying your unit for some time you can build equity and when your ready to move to your next property, you’ll have a rental property. By that time you’ll completely understand running a property and have perspective as both the landlord and tenant.