Ongoing Realestate Projects Business
Another technique is to consider charging a premium rent to allow a shorter term lease of say 3 to 6 months. A higher rent will translate to a higher selling price for the duplex too. Higher rents = higher cap rate/return on investment. A duplex is a great way to invest and start home ownership at the same time. Interest rates are around 5.5% now,which is historically very low. Uncle Sam can also help with the $8,000 tax credit and help you make an investment at the same time, if you live in the duplex. There are two primary kinds of duplex buyers: the owner occupant who wants to live on one side and the investor who wants a pure investment and prefers both sides rented out. It would be a good idea to have a short term lease or have a tenant go month to month to keep income coming in for the owner and to keep options open for an owner occupant buyer.