Owning A Duplex [QUESTION] - GoFuckYourself.com

TimBlaze · 04-03-2008, 10:06 PM

Just wondering if any of you have ever owned a duplex... one of my friends' dads is a real estate guy and recommends buying a duplex rather then a house and renting out the other side so the tenant's rents will pay the monthly mortgage payments while i work my regular job

anyone know anything about this kind of stuff? is it a good idea? it sounds like it is but maybe theres some huge thing im overlooking...

Spunky · 04-03-2008, 10:11 PM

Roll the dice.it's decent with the right tenants

Peaches · 04-03-2008, 10:26 PM

I know people who have done it. It actually works quite well because you're right there. You know if they are having wild parties and tearing the place up. You can take your plunger over there instead of having them call a plumber you have to pay for. You can see if they're trying to move out in the middle of the night and stiff you.

I lived next door (house, not in a duplex) to my last landlord and it seriously was the best. The only downside would be if they expect you to do everything imaginable like change a lightbulb, but if they are paying rent on time and everything else is OK, it might even be worth changing a lightbulb here and there

Christina Muller · 04-03-2008, 10:29 PM

I own a triplex ,no your not overlooking anything if done correct it can pay the morgage and make a small amount on top,if you need any help or advice I will try to help.

After Shock Media · 04-04-2008, 01:27 AM

Still one tenant issue can and will fuck your shit up. Even with you living right there that does not stop a professional tenant to fuck with you hard. Not sure how equal the laws are where you are, however here in CA there are literally books on how to fuck your landlord. I just finished dealing with such a tenant (I hope), and the whole ordeal has just been a huge drain on my resources and I am almost right next door.

Can things accidentally break?
Can they decide to call code enforcement for the fuck of it?
Will they barrage you with verbal shit when you demand shit in writing?
Will you get monthly lists of shit that is wrong according to them, like oh my gawd they saw a bug or the toilet runs too long?
Are you positive their previous landlords filed negative against them or just did what they could, even possibly paying them to leave so that their background is clean?
I could go on and on.

fluffygrrl · 04-04-2008, 02:03 AM

Yea, it's basically a payoff behind a risk.

If you get sweet tenants and keep the place rented out 10-11 months a year, you're in the green.

If you get evil tenants, or keep the place rented out 6 months a year or less, you're making a net loss.

So like with any risk : If you could afford twice the mortgage np if it came to it, go for it. Otherwise... you might lose your house cause of two shitfucks. Not a great place to be in.

04-03-2008, 10:06 PM	#1
TimBlaze Confirmed User Industry Role: Join Date: Oct 2006 Posts: 1,625	Owning A Duplex [QUESTION] Just wondering if any of you have ever owned a duplex... one of my friends' dads is a real estate guy and recommends buying a duplex rather then a house and renting out the other side so the tenant's rents will pay the monthly mortgage payments while i work my regular job anyone know anything about this kind of stuff? is it a good idea? it sounds like it is but maybe theres some huge thing im overlooking... __________________ Roll that shit, light that shit,

04-03-2008, 10:11 PM	#2
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,947	Roll the dice.it's decent with the right tenants __________________ *YOUR INFORMATION HERE*

04-03-2008, 10:29 PM	#4
Christina Muller Confirmed User Join Date: Mar 2007 Location: Canada/Germany Posts: 923	I own a triplex ,no your not overlooking anything if done correct it can pay the morgage and make a small amount on top,if you need any help or advice I will try to help. __________________ Promote A Brand Your Surfer Trusts Playboy No Upsell - No X Sales - No Bullshit !

04-04-2008, 01:27 AM	#5
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Still one tenant issue can and will fuck your shit up. Even with you living right there that does not stop a professional tenant to fuck with you hard. Not sure how equal the laws are where you are, however here in CA there are literally books on how to fuck your landlord. I just finished dealing with such a tenant (I hope), and the whole ordeal has just been a huge drain on my resources and I am almost right next door. Can things accidentally break? Can they decide to call code enforcement for the fuck of it? Will they barrage you with verbal shit when you demand shit in writing? Will you get monthly lists of shit that is wrong according to them, like oh my gawd they saw a bug or the toilet runs too long? Are you positive their previous landlords filed negative against them or just did what they could, even possibly paying them to leave so that their background is clean? I could go on and on. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

04-03-2008, 10:26 PM	#3
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	I know people who have done it. It actually works quite well because you're right there. You know if they are having wild parties and tearing the place up. You can take your plunger over there instead of having them call a plumber you have to pay for. You can see if they're trying to move out in the middle of the night and stiff you. I lived next door (house, not in a duplex) to my last landlord and it seriously was the best. The only downside would be if they expect you to do everything imaginable like change a lightbulb, but if they are paying rent on time and everything else is OK, it might even be worth changing a lightbulb here and there

04-04-2008, 02:03 AM	#6
fluffygrrl So Fucking Banned Join Date: May 2006 Posts: 2,187	Yea, it's basically a payoff behind a risk. If you get sweet tenants and keep the place rented out 10-11 months a year, you're in the green. If you get evil tenants, or keep the place rented out 6 months a year or less, you're making a net loss. So like with any risk : If you could afford twice the mortgage np if it came to it, go for it. Otherwise... you might lose your house cause of two shitfucks. Not a great place to be in.