This morning I received a Skype video message from my little brother Chris.
He asked, “I want to buy a duplex, what is the first step? Do I get a real estate agent? Get pre-approved? What should I do?”
Of course, I gave him a few resources to read that I had previously written, like How to Buy a Rental Property in the Next 90 Days and How to Hack Your Housing and Get Paid to Live For Free but then said to myself “self – (that’s what I call myself)… it’s my brother and I really want him to succeed. So why not make a blog post directly for him that helps him get from A-Z?”
After all, my first rental property was a duplex and I’ve purchased several since that day. I love duplexes and I’m super passionate about helping others get started with duplex investing as well. So that’s what I’m going to do today, for the benefit of Chris and the BiggerPockets audience. In this post, I’ll talk about:
- Why Buy a Duplex?
- What’s the First Step?
- How to Find a Duplex
- How to Analyze a Duplex?
- How to Finance a Duplex
- And a lot more.
Keep in mind, while the focus of this article is on a “duplex” – the exact same information can be used to buy a single family house, a duplex, a triplex, or a 4-plex: so don’t limit yourself to just a duplex. In fact, if you are going to go through all the work of finding a duplex, you might as well consider the larger properties (3 or 4 unit) in case a better deal can be found this way.
Furthermore, I’ll be approaching this article from two places:
- Someone looking to buy a duplex and live in one-half of it
- Someone looking to just buy a duplex as a full rental.
Whichever of these two positions you find yourself in, I believe this article can help.
With that, let’s get to the article. The following is “How to Buy a Duplex.”
Why Buy a Duplex?
(click to continue reading on BiggerPockets)