What are the advantages of purchasing multifamily real estate?
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In Minnesota, my spouse and I first rented a duplex, then bought it from the owner and paid off the mortgage by renting out the upper level. Now it's a single-family home. Now i planning to invest in multi-family properties again, do others have similar positive experiences?
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Many people in Minnesota have such a great experience with multi-family homes. It's an amazing approach to creating some rental income and growing equity. You already had a great experience by turning your duplex into a profitable venture, so again investing in them could be a wise decision. However, I would advise you to closely consider all the prospective rewards and hazards of your investments this time. Make sure you grasp all the rent laws as well as the property tax laws.