Anyone financed a duplex before? Thinking about pulling the

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>Bump

I have been seriously considering the same thing. It seems like a great way to look after your investment. People that buy rentals and then proceed to live hours or even States away always seem to have shitty properties in comparison to the surrounding neighborhood.

>>1568595
Im pretty sure this board is 98% NEETs who live in their mothers basement unfortunately.

>>1568604
I myself once dabbled in NEETdom after college.

>>1568604
me :)

One of my rentals is a duplex. Unless each side is titled separately, it's the same as buying a sfh.

>>1568646
Do you know if the prices are more stable than a sfh since its an investment property? Hard to sell?

Bump gonna do this once I save for the fha downpayment

Make absolutely sure the utilities are 100% separate. I wouldn't even share wifi.

I have the downpayment but not 2 years of taxes. How much do I need to make to buy a $300,000 duplex?

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>>1570753
Just add a zero to most every one of these numbers.

>>1570753
60,000+closing costs (probably about 4%)

So you'd need about 72,000.

>>1570769
>>1570772
I asked how much do I need to make? What should my taxes say I made in '14 and '15 to be able to get a mortgage given that I have the down payment?

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>>1570753
>paying this much to rent out one fucking unit

I started a thread last night about rental investments. I ran the numbers and the returns were total shit. HOWEVER, I was working with scenarios where I would just own a house or condo to purely rent out.

If you're willing to live in a multi-family dwelling with your tenant, surely the numbers would have been much different. This scenario would not be feasible for me.

>>1570900
I'm still willing to answer questions in that thread. I feel like you are looking at a shit property and concluding that all of them are shit.

>>1570800
This is not the place to get the advice. It sounds like you need a lot of "prerequisite learning" that you're not going to find in a thread. Honestly you should find a bank, walk in, and run this by them. Chances are you are going to get laughed off, but for good reason. Without their "blessing"(underwriting), your whole plan is underwater. Go to a bank and they will be happy to go over the numbers such as mortgage payment, down payment, estimated closing costs, and estimated escrow payments. Dust off the old Excel and see if your initial investment gives enough of a return in the end.

>>1570905
The thread is dead by now. The point of it was to have others go over my numbers and see if I'm fucking up the projections somewhere. They were very generous(no vacancy, no repairs, etc) and the returns were still crap. I wasn't looking at a shit property. In fact, I could halve the buy price of a property in my projections and the returns were still unexciting. Don't buy real estate in Connecticut. I came to the conclusion that in my region we are in a renter's market by a huge margin.

>>1570918
What part of CT are we talking? I own a few properties in CT and they are very solid, but it's far enough away from me that I don't really actively pursue it as an area.

I will say that New London county is a shithole.

>>1570924
My "range" is Litchfield and Hartford County. I live in Canton, so I'm sandwiched right in between them. You look in Litchfield County and the going price for rentals is like $1/sq ft, which is most of the problem. Total shit. The area is saturated with homeowners who don't want to be homeowners anymore(or can't afford it), can't sell their properties to even break even, and are competing in the rental market. How do you make a profitable market in a region where people are competing out of simple desperation, who don't care about returns, just not going bankrupt? haha

I haven't looked into Hartford too much yet but I can only imagine it goes up in scale. The return I came up with in a perfect scenario was a bit less than 4%. I had to stop right there since adding realistic modelling variables would have just made that number worse.

>>1570924
>>1570934
I had a friend in Torrington who bought a condo, then later bought a house after he got married. The condo lost so much value that he couldn't readily sell it, so he actually rented it at a loss just to keep up with the payments. Just an anecdotal case, but the numbers suggest that this is the MO of the area, and it gives the theory some flesh.

>>1570769
>500 for a credit report
Are you dumb?

>>1571230
>"Most every one"
Can you read?

>>1569956
Afaik, duplexes are very similar to sfh with regards to price stability. They aren't considered commercial and, especially if they are deeded separately, they are a viable choice for people buying a primary residence.