Real Estate Investing Strategies
Duplexes & Triplexes
You can't have a conversation about real estate investing strategies and not bring up duplexes (2 apartments in the building) or triplexes (3 apartments in the building).
And of course, you can get a building with 4 apartments and higher.
Many investors begin their residential real estate investing by buying a duplex and living in one of the units (perhaps on the main floor) and renting out the basement.
It's a great way to supplement your income and have someone else contribute to your mortgage payments!
Duplexes and Triplexes exist in almost all but the very smallest Canadian cities.
Legal duplexes and triplexes have the proper permits and have separate meters for things like water, gas and hydro.
There are many duplexes throughout Canada which are non-conforming, meaning that someone is renting out a section of their home (likely their basement) but doesn't have separate meters for the unit.
Some cities around the Greater Toronto Area have passed by-laws to prohibit such activities because the influx of people in the communities is so large the social services and infrastructure of the areas can't handle the surging population growth.
Can Duplexes & Triplexes Really Be A Part of My Real Estate Investing Strategies?
Duplexes and triplexes can be a part of your real estate investing strategies. The cash flow from the units is often enough to cover your monthly payments (mortgages, property taxes, and insurance).
And if one of your tenants leaves the revenue from the other tenants can help offset the temporary loss in revenue.
Although I prefer single family homes for reasons discussed
here, many books and real estate courses advocate these properties as one of the most basic real estate investing strategies.
They're worth learning about but make sure you learn about investing in single family homes as well.
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