awschux said:
Thanks for sharing, that is interesting. Ive heard that duplexes are the better bet for investment properties! Aside from getting tenants to occupy each property, what are the main/recurring challenges you see in managing each property?
As far as management goes there is not a lot of difference from that of managing a single family home. In some respects it might even have advantages over SFR in that when you have an opening the other side sees it and they might have friends or a referral to you since they may know the layout and have friends looking. If your managing students, challenges can arise when I have 3 students in a three bedroom. Occasionally you will have a student not getting along with the other two and want to move out early. That is why I much prefer a 2 bedroom over a 3 bedroom especially in a college town. In fact, I live in Austin and have many properties throughout the Austin metroplex and I would rather have 2 bedrooms over 3 for ease of management. Tenants tend to push the envelope with people occupying the home. 3 bedrooms invite too many people for the property and therefore it is better for me to have as few people as possible occupying the property.
Bottom line is keep your properties in top shape, better than your neighbor's and take the extra effort to find the best quality tenants possible. Be attentive to maintenance request, treat your tenants with dignity even when they themselves could be better and you'll find it easier to manage the property. I will say of all my locations Bryan/College Station is becoming more challenging to find the quality tenants because of the over built student housing situation. I am starting to see more non-students in my properties than before.
