Duplexes offer many advantages for investors, especially if you’re just getting started on your real estate investment journey. Duplexes are multi-family properties with two separate housing units that share walls, have a single roof, one yard, and often only one parking area. Because you’re purchasing two residences, it is twice as vital that you practice the same due diligence required of any real estate purchase. If this is your initial investment, your portfolio depends upon selecting a great duplex within your budget.
Even if a bit of sweat equity is involved in bringing the property up to its highest potential, you want to find the lowest-priced property that meets your base criteria in the best location possible. Unfortunately, while you can make repairs and rehabilitate a property, you cannot pick up the land and relocate to a better neighborhood. Read on as we explore what you need to know about investing in duplexes in Omaha and Council Bluffs.
Less Cost Per Unit
By investing in duplexes in Omaha and Council Bluffs, your savings triple initially, you’re only paying the costs to close one property at the time of the purchase. And secondly, because the units share many features, such as walls, you’re paying less per unit than if they were single-family homes. And finally, when reviewing the costs to maintain the property, these shared features add significant savings. For example, instead of sending crews of roofers to two addresses and paying two bills, with one service call, you’ll only pay for a single repair for a shared roof covering two units.
Financing
You need to know about your financing options when you’re investing in duplexes in Omaha and Council Bluffs. Mortgages for duplexes are available through conventional loans or, for some homebuyers, FHA programs. However, you could be eligible for a Fannie Mae loan offered through the government’s FHA program if you decide to occupy one unit. Additionally, you can finance a duplex in Omaha and Council Bluffs if you qualify for a VA loan and occupy one side.
Double Income
Another thing you need to know about investing in duplexes in Omaha and Council Bluffs, they offer a fantastic opportunity for real estate investors like a professional home buyer in Omaha and Council Bluffs to build their income quickly with the purchase of one property, you gain two cash flow streams. Then, as time passes and your equity increases, so too will the rent you’ll begin to earn even more profits. But, of course, you should always consult a tax professional before making such a significant investment and understand the write-offs you qualify for, as well as depreciation.
House Hacking
In addition, as an advantage of investing in duplexes in Omaha and Council Bluffs, you could take up residence on one side to save living expenses, known as house hacking. If you’re new to wearing the hat of a landlord, this is a great way to gain hands-on experience. Additionally, you may realize tax advantages by living in the unit. If the hat of a landlord doesn’t sit well with you, let the management team at Harter Investments help you with as much or as little of the job as you like. Then, when you’re ready to retire and begin to earn truly passive income, the team at Harter Investments can manage your properties your way.
Occupancy
Vacancies can be detrimental to the bottom line it is helpful to know when investing in duplexes in Omaha and Council Bluffs that the odds of both units being vacant are extremely low. Rarely do tenants from separate units vacate at the same time.
Portfolio Growth
Growing your real estate portfolio equates to building security for your retirement, knowing that you’ll have a reliable income stream and the ability to live out your golden years in the driver’s seat. When you purchase a duplex, you increase the number of units in your portfolio and increase the cash flow from your real estate investment business twofold, and this is a great thing to know about investing in duplexes in Omaha and Council Bluffs.
The professional direct cash home buyers in Omaha and Council Bluffs at Harter Investments will guide you step by step through what you need to know about investing in duplexes in Omaha and Council Bluffs. The experienced direct cash home buyers in Council Bluffs and Omaha at Harter Investments know the Omaha and Council Bluffs market and can help you run the numbers, ensuring the best returns on your investment dollar. Our passion is helping you achieve the dreams you have for your real estate portfolio as a home buyer in Council Bluffs and Omaha. From locating the best duplexes available to clean-up, repairs, and full rehabilitation, Harter Investments has built a team of the most highly sought-after pros from every walk of the real estate industry.
Why not let our full-service team at Harter Investments jump into action to help you fulfill the goals of your investment strategy, keeping you on top of current market trends and helping you with any necessary adjustments to your investment plans. We buy houses in Omaha and Council Bluffs so don’t forget to ask about our current inventory of the best duplexes available in Omaha and Council Bluffs. Just call a professional direct cash home buyer in Omaha and Council Bluffs Harter Investments at 402-939-6556 or send us a message today or visit us at www.harterinvestments.com!
