Landlord Question and Answer Forum

I have been thinking about property management for a few years now, and I'm just curious about the details for renting out multiple properties. I have just a few questions hopefully someone can please answer.. - Can you get two home loans at the same time? (Given you have enough money for both down payments and startup costs) - If so, will they be two seperate loans, or can they be lumped together? - Would it be more advantageous to rent out a duplex/triplex/quadplex instead of two seperate properties (Given the option)? Any advice at all would be much appreciated..

Yes, you can obtain two loans separately or some people prefer to do a blanket loan which would be for a "group or several properties". O good practice also if your planning to enter the business and purchase several properties is to form an LLC company and make all purchases through the company. This can be protective for you as an individual if anything occurs leading to a lawsuit. As far as what is better a multi-unit property or indiviual homes-they both have their ups and downs. Much depends on what "type" of property is renting better in your community? This economy has provided many single family homes available for rent in my locale. Yet a single family property brings less problems amongst tenants. Whereas a multi-unit does bring that issue to the table. Often a duplex/triplex can bring in more $$$ vs less expenses. I would definitely join a Real estate Investors CLub in your areas. This web-site has many listed. This way you will meet up with many great experience.

Posted by Denise S, PA on Wednesday, May 20, 2009