First time investor: Condo vs Multifamily
Hello, I am a first time investor and started to look for the investment opportunity. One thing I realized is I can only afford a condo in a good location right now. And my goal is to have a good cash flow and hold long. So is it better to start with a condo as first investment property or wait and save more money and then buy the multi family property? Thanks..
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@Vandan Mehta depends on your resolve and what you mean by multifamily. Many investors regret not scaling to large MF quickly, but I think most ppl need to walk before they run.
I generally discourage people from investing in condos for a variety of reasons, but I also think a new investor should not bite off more than a duplex to cut their teeth. So I suggest getting a small SFH or a small duplex to learn the ropes.