Smaller Multifamily Properties

Smaller multifamily properties such as duplexes, triplexes and fourplexes can be an affordable way of breaking into the real estate market with less risk, more income and more privacy.

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Duplexes, Triplexes & Fourplexes

Duplexes and similar properties offer buyers a way to break into both the home owner's market and the real estate investment market with one purchase. Multifamily housing is one way that you can have both the privacy and independence of a single-family home, with the income opportunities of a rental unit, and the extra space to accommodate an extended family.

There are many reasons why you might consider purchasing a multifamily property. Maybe you have elderly or college-aged relatives who need a safe place to stay where you can be around to help them. Perhaps you want to have rental income to offset your mortgage, or you want to build an income stream by renting multiple units. You might want to own your own home, but don't have quite enough income to buy a single-family home in the neighborhood you want to live in. Sometimes it's a combination of all of these reasons.

If you're looking to buy a home simply to build equity, a duplex bought with a friend or partner can help you save quite a lot in money in terms of mortgage payments and maintenance costs. The costs for repairs in common areas are usually split, making upkeep much easier and more affordable.

Duplexes can usually help pay for the mortgage, but triplexes and fourplexes may provide you with an income stream that will pay for maintenance costs and beyond. Also, they can be a hedge against a lean spell—when one unit isn't rented out, the other one(s) can still provide you with income.

For people who want to break into the real estate market or who want to provide housing for family, this is a viable option that has a lot going for it. Without sacrificing privacy, you can have a flexible home that can provide you with income, space for loved ones, and a large amount of equity.

Contact us to learn more about investing in multifamily dwellings.