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Have you ever worked with a Duplex?


Stacey
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I am considering trying to buy a Duplex or "double" for my first home. The reason for this is so I can rent out the other part to help pay the mortgage. I figured this is a great approach for someone who can't quite afford to live on their own. I mean I can rent and I am renting now but I am sick of living in a tiny apartment. Do you have any experiences with doing this?

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I currently live in one (renting) and the owner actually lives next door! I can actually ask him questions if you would like. He is a family friend and cut me a deal to live here so I lucked out. I am fairly certain the property is paid off though otherwise I doubt he would let me live here for only $500 a month. A house like this in my area goes fro $1200+ a month.

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I have not but I have a friend who rents one out. She inherited it from her grandfather and moved into one half while renting out the other half. The house is paid off so it is a source of profit for her. She is renting out to someone she knows so she has no issues. You can always look into doing that. 

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I lived in one for a year with a few friends. I did ask the landlord about it once. I remember he said he and his wife started buying them after he retired and ended up making a hobby of it. She would handle the interior design and he would handle the repairs. They had 6 of them at the time. They likely have more now. He was only 52 I think at the time and this was 5 years ago.

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