Different people have different likes and have different tastes on different things. Also features real estate news, common real estate questions and answers, real estate classes, mortgage information and a mortgage calculator. We realized that many of the single family homes in the area that we were interested in were too big for our immediate needs and would require a tremendous expense in monthly heating and cooling bills.
On the positive side, if you consider the prices of properties during the time before the most recent global economic crisis and its present values today then you shall fully appreciate the tremendous deal and the good bargain that you are going to get; considering the fact that most prices nowadays are already significantly marked down.
Getting a pre-qualification letter from your loan officer is vital to the home buying process, and should be given to either your real estate agent, or the agent of the seller, to prove that you are fit to buy the home, and that you willing, able, and ready to be a buyer.
Simply divide the property’s net operating income by the asking price. In many cases, it is often easier to get a home loan to buy a duplex then it is to buy a single family home because banks count the potential rental income from the second unit as part of the borrower’s income during the loan qualification process.
Rather than just locate listings, you’ll be able to pinpoint duplexes that will bring you a good return on investment. Finding a duplex for sale on your own is a great way to avoid commissions charged by real estate agents. For instance, you could deduct repair and maintenance costs before paying taxes on your rental income.