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  This month I'm interviewing Hong and Dianne Lee of Bridgepoint Investment Group in Austin, TX about The Duplex Advantage. Bridgepoint is known in the marketplace for the expertise in duplex investments and have coined the monogram " Duplex Dianne ". They are now expanding to provide other investment properties to their clients. I had the chance to learn real estate investing and specifically property management while working part time in their office in Austin, TX for a few months. Hong was an amazing teacher and allowed me to ask as many questions as I needed to grasp the different facets of running an investment firm, property management company, and real estate brokerage. In the interview, Dianne talks about how not every investor needs to become a realtor to get great deals and that becoming a realtor as an investor can actually hinder you from making the best purchase. I agree with her.
While working in the office, I realized that there was so much work around managing tenants, leasing properties, and the ins and outs of a realty office that I realized that in order for me to achieve the "passive" income I was wanting, it wasn't going to happen as a realtor. But what I did learn was that duplex ownership was a great start for a newbie investor and that once you move on to more duplexes and fourplexes, having them managed by a team of experts like the staff at Bridgepoint, is worth it's weight in GOLD!! The ladies in the office are experienced, bright, and friendly. I highly recommend Hong, Dianne, and their team for any new & seasoned investor looking to purchase their next investment.
Enjoy this month's podcast! Below is a preview of the questions and answers...
Here's to Education, Wealth, and Freedom! - Flower De Raadt
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Q. Is Duplex Ownership Profitable?
A. Yes. If you are renting an apartment and haven't started home ownership, buying a duplex is a great start. You kill two birds with one stone. You begin home ownership as well as an investment. By buying a duplex and living in it, you get a preferred interest rate on the mortgage and it helps with the cashflow from the rents you collect.. It is a very good investment vehicle of a first time home buyer. Even if you are not a first time home buyer, duplexes will often cashflow better than houses. Many times your rent on one side will cover at least half of the mortgage payment and in the old days when we first bought our duplex it actually paid the majority of our mortgage payment. I think we were paying about $200 a month basically for our living expenses. That is what hooked us right there.
Q. What are some advantages to Duplex Ownership?
A. Some of the advantages are similar to home ownership and there a few more beyond that as well. Appreciation, tax deductions, easy to manage, a preferred Interest Rate on the mortgage, cashflow. (expanded answer on the podcast)
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