Should You Invest in a Plex or Condo?

You’ve got funds available for an investment and hoping to take advantage of an honest market correction?

Let’s discuss two popular types of revenue properties: the plex (duplex, triplex, four plex, etc.) and the condo.


A secondary property (both condo & plex) will generally require a 20% down payment.

Want to live as an owner occupant in a plex?  In fact, a duplex permits you to live interest-free, as your tenants’ rent covers that portion, and then some, of your mortgage.

Owner-occupant plex down payment:

– Duplex: 5%+

– Triplex & Fourplex: 10%+


– GREATER PURCHASING POWER due to multiple rents counting towards income

– DIVERSIFIED asset that includes land, building & rent generating income

– CAPACITY TO OPTIMIZE units, hallways, exterior, landscaping and tenant selection

– RESELL UPSIDE; Lower inventory & unique product vs cookie cutter condos

– Successful plex strategy: Buy, Renovate, Re-rent, Refinance (BRRR)

– Possibility to CONVERT a plex into an undivided condo ownership to sell as individual units at a higher profit

– BUILD EQUITY FASTER due to multiple rental units

– Average COST PER DOOR is generally lower vs. individual condos

– LESS POLITICS vs. condo’s syndicate

– FREEDOM: you are the only one to decide how to update the property and you don’t have to ask anyone else for permission to undertake your work (unlike condos).

– MORE RESPONSIBILITY/HIGHER RISK; the landlord is the owner of the property’s interior units/hallways/exterior/land

– More TENANTS to manage


– LARGER CONTINGENCY FUND required for repairs (ie; brickwork, roof, foundation, plumbing, electrical, etc.)


– LOWER BARRIER TO ENTRY (considered a stepping stone to real estate investing)

– potential short-term opportunities with PRE-SALE CONSTRUCTION

– Better suited for NON-LOCAL INVESTORS due to minimal responsibilities, only liable for private portion

– LIMITED with potential value add on a condo

– POLITICS – ask for permission

– Building management & financials can IMPACT RESELL

– Possible UNEXPECTED EXPENSES for assessments on building repairs and maintenance

Is one better than the other? No, just different.

Like any other investment vehicle, you’ll opt for one depending on your profile, objectives, risk tolerance, available down payment, etc.

If you need help with this, it’s right in our wheelhouse.