Your National Resource For Duplex Ownership

National Resources for Duplex Owners

Welcome to DuplexChick, your online destination for duplex ownership information.

Whether you're thinking of buying your first duplex home, or an experienced investor looking to sell, DuplexChick can provide you with up-to-date market information, tips on investment property ownership, and when youíre ready to buy or sell, help you find a Realtor who specializes in these unique properties right in your area.

Considering Buying? See how a duplex specialist can help you get a better deal

Considering Buying?

While every Realtor can sell you a home, not every agent can do the necessary financial analysis to find a duplex that is a good investment. Click here for a neighborhood duplex specialist who can help you meet your financial goals.

Sign Up For Our Free Duplex Buyer's Guide

Considering Buying? See how a duplex specialist can help you get a better deal

Considering Buying?

Unlike single family home owners, duplex owners facing foreclosure must also contend with potential tax consequences. Whether you are an owner occupant or duplex investor enduring the stress of being behind on mortgage payments, or needing to sell even though you owe more than your duplex is worth, a short sale can help reduce damage to your credit and tax obligations.

During this stressful time, let one of our Realtors who is an expert carry the load.

Thinking of Selling?

What If I Need To Sell? Regardless of market conditions, learn the tips and tricks to maximize your equity!

Sign Up For Our Free Duplex Seller's Guide

Kari Lundin, Keller Williams Realty Integrity

7401 Metro Blvd Suite 350, Edina, MN 55439 tel. (612) 290-5998

Featured Articles

Minneapolis Tops The Nation In Rental Demand 05.26.17

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We may not win Super Bowls or Stanley Cups in the Twin Cities, but we are tops in one very important number.

The Minneapolis-St Paul metro has the tightest vacancy rate of any major city in the U.S. according to the national multifamily housing consulting firm Witten Advisors.

According to a story in the Star Tribune, demand exceeds supply. To solve that, at the start of 2017 there were 8,440 units under construction, with another 31,752 in the planning stages.

This is good news, of course, if you’re a duplex owner in the Twin Cities. After all, lower vacancy rates mean higher rent.

So where are all of these tenants coming from?

According to Ryan Davis, senior economist for Witten Advisors, half of the growth in the rental market in the last seven years has come from renters age 55 and older, and 40 percent of the growth has come from renters who make $75,000 or more a year.

Matt Rauenhorst is vice president of Opus Development Co., an active developer of multifamily properties in the Twin Cites. In Opus’ higher end developments, he says residents are willing to pay more in exchange for “condo-like finishes”.

As more new construction multifamily properties come into the market, smaller property owners may eventually find the need to update properties to stay competitive at higher rent points.

For now, however, demand continues to exceed supply. It’s a great time to be a landlord in the Twin Cities.

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Share What You Know: Make Your Investment Property A Gift 05.23.17

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Duplex Chick and Dad

On May 3, 2017, my father died following a 9 month battle with pancreatic cancer.

On the surface, that doesn’t seem to have much to do with duplexes, investment property, real estate, or this blog.

But this blog wouldn’t have been possible without my dad.

You see, throughout my childhood, my dad had a sign on his desk that read “Happiness is a positive cash flow”.

The terms “cash flow” and “cap rate” were heard as often when I was growing up as “eat your vegetables” or “good job”. They have, quite simply, been part of the soundtrack of my life.

While today I do speak the language of investment property, it is nonetheless daunting to suddenly be charged with understanding someone else’s real estate portfolio; especially when it involves larger commercial property that may share many of the principles of multi-family investing, but not all of the same language.

If you’re thinking about investing in real estate, or have already started, I’ve now come to realize how important it is to have all of the information someone would need to run your properties centralized; from a list of service people, to loan numbers, balloon payments, tenant contact information and leases.

The one gift of a terminal diagnosis is we got a little bit of time to prepare for this transition. Even so, it’s a challenge to understand it all.

Helping your loved ones by sharing as much information as you can is one of the easiest ways you can make sure your investment is the blessing for them you intended it to be. And it’s never too early, or too late to get started.

 

 

 

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Why The Fed’s Rate Hike Doesn’t Affect Duplex Mortgages 03.22.17

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Last week the Federal Reserve raised interest rates.

Believe it or not, this does not necessarily mean interest rates on duplex mortgages will necessarily follow suit.

When the Fed raises interest rates, it is actually raising the amount banks charge to lend each other money overnight so that they meet their minimum required reserves.

Banks typically pass this increased cost on by raising interest rates they charge consumers for “short term” loans.

So when Federal Reserve Chair Janet Yellen announces a rate hike, why does everybody panic?

Here are four ways an announced rate hike may impact your cash flow as a duplex investor:

  1. Home Equity Loans and Lines of Credit – Many investors use these loans to aquire or improve rental property. Banks consider this short-term debt. Therefore, these loans are most often have variable interest rates, which the bank ties to the interest it is charged to borrow short-term money. Of course, the rate they charge consumers is always higher.
  2. Credit Card Rate Hikes – If you use a credit card to purchase materials for your rental property and don’t pay the loan off every month, you will likely see a spike in the amount of interest you pay.
  3. Stuff Costs More – Of course, if businesses have to pay banks more to borrow money, they have to increase revenue in order to remain profitable. They do this by raising prices. This may cause consumers to spend less and to some extent, change their ability to pay rent.
  4. Jobs and Pay- If businesses are earning less, and people can afford less, the economy slows. This gradually leads to fewer people being hired, and those with jobs, are less likely to receive raises.

Of course, the Federal Reserve raises interest rates in order to slow inflation- in which prices rise rapidly.

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