First meeting on Real Estate Investing
I am just starting out and just met with a family friend today who used to invest in real estate. Throughout my time researching and reading I have been leaning towards the efficiencies that could be had by focusing on multifamily housing. My logic was you had one roof covering multiple tenants, if one tenant moved out, you still have one or two to pay the bills, etc. However, the family friend opened my eyes to some negatives on multifamily housing and in his opinion he preferred SFH.
His main point, and it made sense to me, was that tenants in SFHs tend to treat the SFH as an actual Home and not just a house. In his experience people in multifamily tended to treat the units as just some place they live rather than a true home. In the SFH his tenants tended to be more willing to help maintain the yard and such due to for lack of a better term, the neighborhood effect. The SFH tenants felt they were in a true neighborhood and would tend to want to feel apart of it and that helped in the maintenance of his properties.
I was just wondering if there were other pros and cons that could be seen from the SFHs and Multifamily houses and even commercial investing. I never would of thought of it in the way that it was explained to me and was curious if anyone else experienced the same thing.
THe best part of not only meeting and gaining some new insight on real estate, he also offered to reach out to two other people in my area to help expand my network. All in all it was a great experience and even thought I am taking baby steps into real estate investing it is still exciting.
Have a great evening,