I am looking to buy my first property and I have mostly focused on single families, but have been thinking more about Multi-families of late, especially after listening to Bigger Pockets podcasts for the past couple weeks. I found a 2-family listing that looks pretty good, it is located in a single family neighborhood and it looks like it is the only multi- in the neighborhood; is that a good or bad thing? Are there any potential drawbacks I should be aware of for being the only multi in the neighborhood? Thanks in advance for any advice!
These are my favorite multifamilies to buy. I dislike apartments that are surrounded by other apartment buildings. Those generally attract the typical apartment dweller less-than desirable crowd.
A small apartment building surrounded by houses should attract someone who wants to stay long term, live in a good neighborhood, but can't afford or doesn't want to pay for a single family house. My best small apartments are located in neighborhoods of single family houses and in those apartments I have tenants who stay and pay.
@Aaron Mazzrillo Thanks, that makes sense! Thanks for responding so quickly too!