Long time on-and-off lurker haha. I've been interested in the idea of real estate investing since I graduated high school. Since graduating college and having been working for a couple of years, I can make that idea a reality. I am just not sure exactly where to start.
I was initially attracted to the idea of multi-family or multi-unit properties, but I am having trouble finding properties in my area. I live in a suburb of Birmingham, Vestavia Hills. Ideally, I'd like to purchase a property and live in one of the units while renting out the remaining units. My problem is I have not been able to find a property like this in my area.
There are a lot of MF properties in north Birmingham, but that is not close to my work and, frankly, not the best part of town.
Any suggestions or advice for a newbie?
Find a local agent or broker to help you, they should know.
@Tyler McLeod I have a duplex that I'm doing now that you may be interested in.
New HVAC and water heater, refinished hardwoods, granite etc...
What part of town are you looking in? Only Vestavia? This duplex is in Avondale by the brewery.
There are plenty of multifamily properties in Southside, a few in parts of vestavia/hoover (that area around wisteria drive), and there are some in Cahaba Heights.
Another option is to find a home with a back house, guest house, garage apartment, carriage house,etc. You could live in the guest house and rent out the main house.
@Cooper B. that's a good point! I hadn't thought of that
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!