The caption may sound too good to be true, but many people are already doing this. The key to this simple concept is a type of real estate called the "'triplex".

The triplex like other multi-unit properties is defined as a building divided into three self-contained apartments on three separate floors, and is intended for occupancy by three families.

In layman terms, this is saying, that you have access to three units or entities, all self contained, utilities are invariably separately metered, or can be easily prorated. Access to and from each unit is separated by stairs; basically the only common area is the laundry room, which is outfitted with metered washer and dryer respectively.

Why am I sharing this with you, as if you were not already aware of this little gem? The reason is the "triplex" is one of the fastest ways to achieve a stronger financial future. As successful people say "it’s not how much you earn its how much you keep in your pocket".

The owning of a triplex or any such multiple unit is truly one of the most underused concept by prospective homebuyers as it can allow you to individually or collectively get into the real estate market, securing your future in many ways, namely:

1) Consider buying a triplex and occupying one floor only, then renting out the other two units, thus using the proceeds to pay down the principal portion of the mortgage, while the equity is increasing, leaving one with a greater net worth over a given period.
2) For example, three friends or family members, get together and share a triplex, and because of their self - contained feature, there is no need to get into each others way; and so for approximately a third of the cost a person becomes a landlord, building up a tremendous equity over time, which is a better approach than renting, which as you can well appreciate, does not offer any returns at the end of the day.
3) Let us not forget what tremendous possibilites exist for any smart investor who wish to profit from theses types of properties.

These are just some of ideas which can be used in these competitive times, which can yield tremendous returns.

If you would like to make money in real estate, or if you are interested in buying a triplex, duplex, fourplex or any other multi-unit properties, or if you already own one and need to move on to another, please give me a call, or get in touch by e-mail.