Coldwell Banker Commercial, NRT
Multifamily Group
Founded more than 100
years ago
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Enjoy
The Benefits!
Orange County, Coastal Area, MultiFamily Apartment
Ownership
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(1) Duplex-Fourplex homes offer outstanding
innovative financial opportunities.
Purchase or Refinance
Example:
If you are buying a
duplex-fourplex as a primary residence, AKA (Owner Occupied), you can use
a large percentage of the income from the other unit (s)
towards your debt
to income ratios, when applying
for a Real Estate loan. Simply stated, you become a stronger
borrower, just by buying and owning multifamily property.
Purchasing a duplex-fourplex is a great idea for many
homeowners. Not only does one get to enjoy the pride of homeownership
but, he or she also gets to have someone help them pay his or her mortgage
through renting out the other unit (s).
When a refinance is
in order, the owner has many options, please feel free to call us, at the
number below, for an overview
of our companies
innovative financing solutions.
(2) Duplex-fourplex homes have a lower barrier to entry.
Buying a
duplex-fourplex is a
great entry point for a first time home buyer or someone who needs a more
affordable entry point
in a certain market. On average, a duplex-fourplex unit is more
affordable when compared to single family home with a similar
configuration of bed room,
bath room, square feet, and condition.
(3) Duplex-fourplex homes are homes with cash flow.
Buying a
duplex-fourplex and
occupying one side gives you the ability to have a cash flow source while having
the utility of a home.
Remember, this cash flow is in addition to the affordability advantage you have
from living on one side of the duplex-fourplex.
These
cash advantages can take care of a part of the expense of ownership.
(4) A duplex-fourplex home gives you faster home equity.
If the goal is to
accumulate home equity, then living on one side and renting the other unit (s) provides the ability to make double
mortgage payments each month, effectively halving
your mortgage term. This reduces the interest paid and accelerates
your home
equity which can be borrowed against if needed.
(5) Duplex-fourplex homes allow for unique living situations.
The duplex-fourplex housing style opens up options for
unique situations. Say, for example, you need to take care of someone in your
family
who needs close supervision, but is also
situation where both parties, yourself and your family member require privacy
and space.
By living on one side and having your family member live on the other
side, it solves that dilemma.
(6) A duplex-fourplex home gives you a great rental for the future.
A great aspect of
buying a duplex-fourplex and living on one side as your first home is that when you are ready to move
to your next property,
you will have a ideal rental property, with experience in running a property and
an understanding of
how it feels from both
the landlord and tenant perspective.
For additional duplex-fourplex ownership information, Click Here:
Multifamily
101
Call Peter today if your are Financing, Buying or Selling a Multifamily property:
Direct: 949.718.1512 - Newport Beach
Office: 949.644.9060
Coldwell Banker Commercial, NRT - Multifamily Group