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| paula0000 |
 Posted: Wed Feb 23, 2005 4:42 pm Post subject: Has anyone ever rented... |
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Investing Manager
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| ...an apartment where they live in one of the apartments and rent out the other parts? I thought this would be a good way to get into the real estate market and make enough money on rental income to help with the mortgage. |
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| trixiezzz |
| Posted: Wed Feb 23, 2005 7:34 pm Post subject: |
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Investing Manager
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| I've heard the same thing about duplexes and four-plexes. One big drawback is: do you really want to have daily contact with your renters? Whose door will they knock on each and every time the toilet backs up? |
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| jeepgirl30 |
| Posted: Fri Feb 25, 2005 6:42 am Post subject: |
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Investing Sr. Associate
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My DH is such a total neat freak he'd go nuts living directly next to someone who may "trash" his investment!
One of my first apartments was a high rise in a very ethnic area. The cooking smells were sometimes so overpowering! That is something I would never want to be right next to again. |
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| ammo |
| Posted: Fri Feb 25, 2005 9:07 am Post subject: |
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Investing Sr. Associate
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| I thought about it, but id have to be in contact with the people all the time, if they werent very nice people then, Well maybe its not such a good idea, more things can go wrong with more people, just depends how much you trust them. |
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| SCmomof3 |
| Posted: Fri Feb 25, 2005 1:13 pm Post subject: |
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Investing Associate
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| There are definitely pros and cons to this scenario. We considered it briefly also. I wish you luck in your decision! |
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| paula0000 |
| Posted: Sat Feb 26, 2005 3:09 am Post subject: |
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Investing Manager
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| Thanks for the tips. I think for an investment where we wouldn't be a ble to afford it otherwise- I'd consider the duplex/fourplex. Otherwise if we consider a rental property, we wouldn't be living there... |
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| wallace6 |
| Posted: Thu Mar 03, 2005 9:03 am Post subject: Renting duples |
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Investing Sr. Associate
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| If you rent the other half of a duplex out to a friend or family member it can work out great. |
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| bigp |
| Posted: Sun Jul 31, 2005 4:03 pm Post subject: |
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New Poster
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You are right about a duplex. It is a great way to get started landlording, because you have the ability to closely watch your investment. Many of the downsides people have posted are right, but there are risks associated with everything.
By living in the building, you eliminate the need for a manager, and get to see what really goes on when it comes to tenants. It is a fantastic way to gain some first-hand experience with a property.
If you have any specific questions about getting involved with this type of property or others, please feel free to ask.  |
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