5 Reasons to Buy a Multifamily Property in 2024
It’s a fact that real estate is the number one way to build wealth however if you’re new to the real estate game it can be very overwhelming and intimidating, particularly in today’s real estate market.
If you’ve been struggling with how to break into the realm of real estate ownership consider this: purchase a duplex. A duplex is defined as a house divided into two apartments, with a separate entrance for each. It is also what I consider one of the best investments that a homebuyer can make.
YOU CAN LIVE IN ONE UNIT AND RENT THE OTHER!
Multifamily properties qualify for FHA financing, which means that you could purchase the property for as little as 3.5%% down. (Let me know if you’d like me to connect you with a lender and/ or help you break the ice).
Passive income. If you’re looking for a way to offset your housing costs then a multifamily property could be the perfect solution
Hellllllo Tax Write Offs – It’s no secret that owning a property provides many tax incentives that you don’t find as a renter. If you buy a duplex and rent out the other side you can write off all the costs that take place including costs to market and rent the property as well as repairs and shared expenses.
Welcome to the World of Landlording – Real estate is one of the most lucrative investments you can make. If you’ve ever thought about investing in real estate this is a great way to start. Start small with your one unit and then grow your portfolio. You’ll have a vested interest in the quality of property and tenant that you choose because you will be neighbors.
Interested in learning more about owning a multifamily property? Click HERE to schedule a call with me and let’s get this party started.
