Any experienced real estate investor will tell you that “things don’t always go as planned”. When buying a duplex as a rental, you must have realistic expectations and a cash flow reserve. Here are some specific questions related to vacancies if you buy a duplex rental:
- How will you advertise to attract tenant inquiries?
- Do you have at least a 6 month cash flow reserve if you have double vacancy?
- At what point will you drop your rental amount if no tenants show interest and what increments will you drop the price?
- Are you willing and able to occupy one side of the duplex for a period of time so that you don’t have double vacancy?
These are some quick questions to ask yourself before you get started, but ultimately it comes down to being a landlord and providing a rental that renters want to rent. That being said sometimes you just need to have some time to find a tenant; just make sure that time doesn’t stretch your bank account too thin.
We at Duplex.net wish to welcome all the duplex brokers and agents, duplex investors and renters to the “The Duplex Blog”. We will be your guide into these two sided or two story domiciles. We look forward to sharing information and interacting with you!