Foreclosures that represent duplexes being sold instead of houses or other residential structures. Often more affordable than full-sized single-family homes.
Duplex foreclosures are a phenomenal opportunity for buyers to invest in a versatile type of property that works great as a primary residence or as a rental property, or both! Duplex apartments are basically houses that have been split in two to create two apartments. They are always in demand among buyers because they offer the privacy of a private home at the price of condos or apartments. The same goes for renters - the townhouse style floor plans associated with duplexes and triplex homes just make them more attractive to rent.
So if you're planning on investing in real estate, duplex foreclosed homes are something you must consider. Many buyers choose duplex homes for sale because they can live in one townhouse while renting the other. This makes paying your mortgage easy, as the home is already paying for itself. Even buying duplex homes for sale purely as investments is very financially manageable. The money you stand to make from renting both units should be more than enough to cover your monthly payments!
At Foreclosure Deals, we'll help you find the duplex for sale you want for way under market price by showing you how to buy duplex foreclosure properties, or how to acquire them through a foreclosure home auction. Available for discounts due to a past default, such as government tax lien foreclosures, a foreclosure home makes getting the housing you want simple and cheap. Our online service helps you target multi-family houses within seconds and our expert team can teach you how to purchase everything from a loft to a duplex foreclosure for sale for a great low price. Come get started!
Once you pay off the loan and own the property, it is yours to do with as you please. You can use it as collateral just as you can any other property. Just know that you probably will not get 100% value for the property, so expect anything from 75-80% value toward your next loan.