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deeeeeleeeeete

Multi-family housing - owner occupied

Debbie Downer
9 years ago

Right now I have a two flat - live upstairs, rent the apt. downstairs. Its worked great for me- having that extra income PLUS I get to write off expenses for the unit plus a certain percentage of expenses for the common areas like roof, furnace, repairs.

Am considering moving up into something larger for additional income - say 3 or 4 unit....any larger than that it probably would be too much of a PITA. Anything bigger than a 2 flat seems to be a different animal though - I cant qualify for same type of homeowner loans even if I owner occupy.... which I think means higher interest rates. I don't even see these bigger places listed anywhere.

Guess this would fall under the category of investment of commercial real estate - I have started to do a little bit of research but wonder if yall have any thoughts, advice, feedback about how to proceed? For one thing I haven't really gotten a handle on whether the additional income would be enough to justify the additional expense and headache. Is there such athing as a buyers agent for this type of real estate?

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