Home Buying in Fort Myers>Question Details

rynearsonftm…, Home Buyer in Fort Myers, FL

What are your thoughts about buying a duplex or triplex, living in one unit and renting out the other one or two units to make most of payments?

Asked by rynearsonftmyrs, Fort Myers, FL Wed Mar 20, 2013

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9
I agree with Jim too.

If your a real people person, like maybe MOST of the time with YOUR tenants, it can be great. However with friendships come perceived liberties by your new "friends" tenants.

Just be careful.

Call or e-mail if you want to go further.

KCloutier9@gmail.com
239.246.6639

Cheers

Kevin Cloutier
A HouseSOLD Name
Southern Premier Realty
0 votes Thank Flag Link Sun Mar 24, 2013
I agree with Jim, it is a financially efficient way to build equity, but if you're the type that likes to constantly keep an eye on your investment from a financial as well as a property standpoint, not only will you find landlordship tough, but your tenants might find this type of living situation a nightmare. This always brings me back to the old sitcom, "Three's Company", where Mr. Roper would come over on a whim, and all the while Jack is putting up a "lifestyle" facade so he could live there with 2 beautiful young ladies. It makes for great television, but in real life it would be exhausting.

Give it some thought, and let me know if you needed help looking for a duplex that would "make sense" for you.

Ray Rauber (352) 812 2060
0 votes Thank Flag Link Thu Mar 21, 2013
Financially, this is a homerun. Word of caution, though...Landlordship is NOT for everyone!!! I'm going to go out on a limb here and say there are some people out there who are BAD tenants. Get stuck with one of them and life can be hell. And living in the same building can make it even more so! Talk to people you know who are landlords and get some feedback (balanced, both positive and negative) before you make the leap. An investment property in the next town over that you manage yourself is very different from one you live in, so make sure "you can live with" the arrangement. Best of luck with your decision and purchase...
0 votes Thank Flag Link Thu Mar 21, 2013
It is a great way to own a home and have someone else pay for most of the house for you!
0 votes Thank Flag Link Thu Mar 21, 2013
Well played.....if you can get financing and beat cash investors on the bids.

jessemcgreevy@gmail.com
239-898-5329
http://www.Domain-RealtyGroup.com
0 votes Thank Flag Link Wed Mar 20, 2013
It's a great idea. let your tenants pay your mortgage.
0 votes Thank Flag Link Wed Mar 20, 2013
Great way to save money and build equity !
Landlords that live in there income property protect their investment from falling into disrepair and solve problems faster before they become big expenses. It helps a lot if your handy or willing to learn to how do repairs yourself. Even after you've saved enough to buy a single family home or more income property It's still a wise investment.


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Best regards ,
Susan Callahan, ABR, CNS
Coldwell Banker Residential Real Estate LLC
CELL: 239-896-6342
7205 Estero Blvd # 724 Fort Myers Beach, FL. 33931
E-Mail: Agent4lee@aol.com
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0 votes Thank Flag Link Wed Mar 20, 2013
Great idea! You can buy a nice duplex for under $100,000 so your tenant would pay the lion's share of your expenses. If you would like to view some listings, call, email or just click our website, get your FREE Listingbook account and you can search the MLS just like a Realtor®.
0 votes Thank Flag Link Wed Mar 20, 2013
Lots of buyer's do it. Its a great idea - usually you can live free so to speak if you buy the right property.
0 votes Thank Flag Link Wed Mar 20, 2013
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