Questions about duplexes

**rogerthert** · 11-14-2008, 07:56 PM

If i were to buy a duplex, and rent out side A, while living in side B, how would the this work:

1) repairs - is there a way that i can make myself non-liable for major repairs...for example leaking faucets, toliets, etc etc...or would i just have to bite the bullet on this on

actually thats all i really had for now, just that one question. personally i think it may be a nice investment. oh and where is a good place to go to get comparibles online?

thanks.

**Greg** · 11-15-2008, 05:34 AM

Landlords typically are responsible for major and minor repairs but it is up to you what you put in the lease. I think you are going to have a hard time finding a renter who would be willing to take on such responsibilities.

There is no place on line where you can find good sold comparables. The best place for sold comps would be either your local tax department or a local real estate agent.

**rogerthert** · 11-15-2008, 06:53 AM

that's my fear of being a landlord completley. people can completely destroy the house, and who's left to pay for this, but me. true i can evict them, but then i'm still stuck with it. of course holes in the wall are one thing, but if they dont take care of the toliets,s inks, tub, etc in the house that stuff can look like accidents. oh well
thanks for the input.

**minnesota-mls** · 11-17-2008, 02:14 PM

Thanks for your post. The first property I purchased here in Minneapolis was a duplex. I lived in the lower half, and rented out the upper half. I found it a great way to get into home ownerhip, save on some expenses, and start getting the benefits of owning some real estate.

There certainly can be ups and downs with life as a landlord. However, if you find good tenants, it can be a win win experience.

Honestly, I wouldn't worry too much about the repairs, etc. It would not be alot different that you just having your own home. Remember you would have rent coming in to help with your mortgage payment and any expenses, etc.

At least here in the Minnesota real estate market, there are so many propeties for sale, buyers can really dictate price on these homes on MLS. They are able to get great deals.

I hope this helps.

**agentsranking** · 11-17-2008, 07:41 PM

You can negotiate who pays for repairs with the tenant. For example you may want to write in the lease that all minor repairs under $100 are to be paid for by the tenant. Then at least they won't call you for every small thing. Also, if a tenant causes damage to the property you can keep their security deposit and if the damage is major you can take them to court.