Thinking of investing in a duplex building? If yes, read on to find out if it’s a perfect fit for you.
If you’ve been thinking of investing in the property market, chances are that you’ve heard about a duplex building. In particular, you’ve heard of benefits associated with investing in a duplex building. But before jumping into it, it is important you do some research. This will help you know if investing in a duplex building is a good idea. Better yet, it’ll help you find out if it’s a good investment for you. It’s with this that we’ve decided to share with you this duplex building investment post.
To better answer this pressing question we will look at reasons why investors choose to make this investment. We’ll also look at the common cons associated with duplex building investment. But first, let’s focus on the reasons.
Reasons For Duplex Building Investment
To know if a duplex investment is good for you, it is important to know the reasons why other investors choose to do so. With that, below we’ll look at the key reasons for investing in such properties.
Rent Income – Top on the list of why investors choose to invest in a duplex building is rental income. With this investment, investors get rental income from two units as opposed to one. As an investor, you can choose to live in one unit while renting out the other. This way, you can offset some of your monthly cost using the rental income you get from the other unit.
Perfect For Beginners – If you are starting out in property investment, investing in a duplex building is ideal. Think of duplex investing as a “Real Estate Investing 101” course. What you learn you’ll use later on when competing with the big dogs in property investment.
Tax Write-Offs – This is another huge plus with investing in duplex buildings. Owning a duplex is seen as a business expense. Therefore, any repairs or maintenance can come of your personal taxes (or a portion of it at least). This can result in you saving big money that you wouldn’t with other investments.
Duplex Investment Con
Bad Tenants – A big negative with this type of investment is bad tenants. Not only will you be forced to deal with the financial consequences of a bad tenant, but you’ll also have to live next to them if you plan to live in it.
Thinking of investing in a duplex building? Get in touch with Duplex Invest. Our team of experts will offer you professional assistance and offer valuable advice. Dial this number 0410 314 179 to get in touch.