Are you searching for the perfect first-time rental property? If so, one of the best properties to consider is a fourplex.
A fourplex is one building with four units that are attached by a wall between each unit. Many investors get started with Real Estate investing by purchasing a fourplex or a duplex because it gives the ability to gain experience as an owner without having multiple properties that are spread-out all-over town.
Reasons to Invest in A Fourplex
Cash Flow – With a fourplex, you will enjoy the benefit of having cash flow from four units instead of one unit, if you were to invest in a single family home. What’s even better about a fourplex is that if one tenant moves out you won’t have to be concerned about loss of revenue because you will still have cash flow coming in from your other units while they are rented.
Easy to Finance – If you’re open to living in one of the units, your fourplex will be easier to finance than a traditional single-family rental because when you choose an FHA loan you can get into a fourplex with as little as 3.5% down.
Easy to Maintain – Another benefit that comes from investing in a fourplex is that they are easier to maintain than single family homes because all of your tenants are under one roof, and in one location, compared to if you were to invest in multiple single-family homes.
Lower Expenses – Last of all, one final reason to invest in fourplexes is the fact that with a fourplex you will have much lower expenses or the best economies of scale because all of your expenses will in one location.
Besides convenience, owning a fourplex is also a great starter property if you plan on investing in larger multifamily properties in the future.
Get Waltham Area Property Management
To learn more about the benefits of investing in fourplexes, or to speak with us about our Waltham area property management services, contact us today by calling (617) 957-0166 or connect with us online.
