10 Ways A Duplex Specialist Can Help You Get A Better Deal

expert in colourWith a MLS full of deeply discounted duplexes and continued low interest rates, there’s never been a better time to invest in real estate.

But as many wonderful investment real estate opportunities as there are out there, it’s important to remember that not every Realtor is qualified to help you. In fact, some agents may even cost you money.

Here are 10 ways a Realtor who specializes in duplexes and investment properties can help you get a better deal when you buy:

  1. Realtors who specialize in duplexes have and are tapped into a network of past clients who may consider selling, know of non-MLS short sales and foreclosures, and can share firsthand knowledge of properties that have either been cancelled or expired from the MLS and may still be available for sale.
  2. A duplex specialist lists and sells duplexes and income property. She’s seen property presently on the market, as well as properties that have recently sold; meaning she can quickly tell you whether a property is overpriced or the deal of a lifetime.
  3. A Realtor who works extensively with duplexes, triplexes and fourplexes has customized addendums and amendments specific to the purchase of rental property, insuring you get pro-rated rent, leases assigned to you and the complete transfer of security deposits.
  4. Investment property Realtors can literally save you hundreds and put thousands of dollars in your pocket simply by knowing when’s the best time to close on a duplex purchase.
  5. Duplex specialists can help you determine whether or not a duplex is, in fact, the best move for you. Perhaps you’re more suited to own an apartment building; or maybe a more hands-off investment like a townhouse is right for you. Regardless, a qualified Realtor can help you avoid costly mistakes and make the best move.
  6. An investment property Realtor is a teacher, coach and advocate. If you’re new to owning income property, she can teach you the difference between a cap rate and a gross rent multiplier. And if you’re a seasoned pro, odds are she can quickly tell you the cap rate or average rate of return in any given MLS district.
  7. A duplex specialist can spot and predict trends  in the local marketplace. For example, has she noticed clients looking for more walkable neighborhoods than in the past? Are more families moving into the rental market? How has the vacancy rate been impacted by foreclosure?
  8. Duplex agents can  provide a mathematical analysis of the property, including in those calculations local vacancy rates, present and market rents, and realistic predictions for expenses like repairs and maintenance.
  9. An experienced duplex agent can help identify areas of concern in existing leases, alert you to unusual utility bills, and help you find ways to improve the rate of return on your investment after closing.
  10. Duplex Chick specialists are an ongoing resource for property owners even after closing, offering a network of contact crucial to successful real estate investment. Need a good real estate attorney? Call your duplex specialist. Need a better insurance rate? Chances are your Realtor can recommend someone.

Whether buying a duplex in Minneapolis, St Paul or anywhere else in the United States is part of your 2011 goals, let us help you find a Realtor who will help you save money; while you’re making it.