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Triplex Foreclosure Homes: Great Investments At Affordable Prices

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For someone who is new to the foreclosure market, the large amount of choices can be truly overwhelming, especially when he finds out that shopping for properties is just but one step in the whole buying process of foreclosure investing. What every new investor should know when investing in foreclosures is that different properties offer different opportunities. Find out the benefits of investing in triplex foreclosure homes.Great for Cash FlowTriplexes are popular for their attractive, multi-unit home plans that are suitable for large families. Families, relatives, and friends who would like to live close to each other but not exactly in the same house find these types of homes as perfect solution to their preferred living arrangement.If you are a startup investor who would like to take advantage of the declining prices in the housing market, a triplex is a great property to start with. The low price that it offers compared to large buildings with several apartments in it allows you to keep a healthy cash flow that you can put in some other investments. A less expensive property such as a triplex can afford you substantial leverage when it comes to flipping it for a profit later.Continuous Rental ProfitsIf you are buying foreclosures with the end of having them rented, triplex foreclosure homes may be your best choice. They are easy to market and are perfect for growing families. These multi-unit houses are magnets for profit since they only require minimum investment from you but you get to collect rentals from several units, allowing you to recover your investment more quickly.Better Loan CategoryBecause they are still considered residential units, you can apply for financing through conventional loans. This allows you to purchase the property at low down payments, sometimes for as low as 5 to 10 percent of its value. New and first-time home buyers can also turn to loans guaranteed by mortgage lenders and the Federal Housing Authority (FHA) that allow you to make very low down payments for as long as you will live in one of the units. Again, this is a fantastic opportunity for you to keep your cash flow from hitting red.You can never go wrong with triplex foreclosure homes. Aside from the amazing deals that you can avail of, these types of homes are very affordable to keep in terms of property taxes and maintenance costs. And we all know that the more money you save from the upkeep of the property, the more money you will have to further your investments.
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