Thinking about buying a home in Anchorage, Alaska? - But you also want to invest in real estate, AKA the best investment vehicle ever?
Great! So you’re buying a duplex!
A few things to note:
Buying a duplex is a pseudo investment.
A duplex doesn’t typically cash flow, especially when you’re living in it at first, unless you put a very large amount down.
If it doesn’t cash flow, it’s not classified as an investment, but rather a liability; something that costs you money to own.
Good news is:
You’re collecting rental income from one unit, so you’ll be paying a lot less than even half your mortgage every month (typically).
Also, some day when you pay down your mortgage, you can refinance, and it WILL become an asset over time.
Still not convinced?
Unlike buying a Fourplex or even larger units, duplexes often offer more conveniences of a single family home, such as one’s with garages, great finishes and construction and beautiful open concepts.
AND, unlike a single family, you won’t have to solely rely on JUST yourself to pay the mortgage every month.
Getting into a financial bind? GO live with friends while you FULLY rent out you’re duplex until your back on your feet.
These are just a few of the great benefits of buying a duplex.