Investing in a Duplex Can Be Dubious!

Charlotte real estate experts estimate that something like 80 percent of those that purchase property in America are considered real estate investors. Have you ever thought about investing in real estate? Chances are if you are like me you have, which brings me to my next question, would you consider buying a duplex?

Many people that are interested in real estate investing are unaware of some of the perils of real estate investing like large down payments, property management fees, and higher interest rates. One way to avoid most of these perils is by purchasing a duplex, renting out one unit, and living in the other.

Before you toss this idea out the window, think about this. If you purchase a modest duplex for $100,000, carry a monthly payment of $600 on your mortgage, and rent out the unit you are not living in for $600 a month, you are essentially living rent free.

Many people prefer their own homes, and areas like Charlotte, and Union County there is definitely the space and affordability factor to make this happen, but the question remains, would it not be nice to have your mortgage payment covered each month?

Post a comment and let me know your thoughts, could you deal with a neighbor that essentially was paying your note each month? Would it be worth it?