Buying a Duplex:
There are more buyers than sellers
Buying a duplex in Minneapolis or St. Paul is incredibly difficult because they tend to sell the second they hit the MLS (or even before then).
Inventory is an issue when it comes to duplexes, which means that when we’re approached by a buyer, we’re able to provide them with a unique advantage if we’re able to connect them to a seller.
It’s About Managing Tenants, Buyers, & Sellers Tensions
A critically important factor when purchasing a duplex or rental property is managing the tensions between sellers, buyers, and tenants.
Lease contracts, rental rates, utility agreements, and a number of other factors come into play when an occupied rental changes ownership, and we’re the team to manage the tensions at play in order to maximize value for both the buyer and the seller.
Duplex for Sale Minneapolis – Buying a Duplex
Buying a duplex has distinct advantages over purchasing most other kinds of properties. Unlike many investment properties, duplexes can be financed with FHA loans, allowing buyers to purchase with low down payments and higher debt-to-income ratios.
If You’re Thinking of Buying a Duplex in Minneapolis or St. Paul –
Please connect with us so we can walk you through the amazing advantages of duplex purchasing such as using an FHA loan and borrowing against the anticipated rent (which allows you to leverage a budget that’s a bit higher if necessary.)
Duplexes can simultaneously fulfill the one year FHA occupation requirements and the landlord experience requirement that’s necessary for purchasing most investment properties.
Once you’ve lived in an FHA financed duplex for a year, you are legally able to move out and find another renter. That said, there are important caveats to consider, and you should consult your lender before making any rash decisions.