Duplex or Fourplex for my first investment?

[Melissa Dorman]

So I'm moving from LA to Portland, saving my pennies, and looking to buy my first property (likely FHA 5-15% down, owner occupied). Inventory is scarce and prices are steadily rising. I will have about $50,000 for down payment and closing costs. Would it be better to start with a duplex that is about $300,000 that brings in $2,000-$2,500 in rents or a Fourplex for $500,000-$650,000 that brings in $4,000-$5,000 in rents?

[Account Closed]

In Portland there are many single family homes with ADUs, which is essentially 2 units on one tax lot. You could live in the smaller ADU and rent out the house.

In other words, you may not want to limit your search to plexes.

Shoot me an email/PM when you're getting ready to start looking and I'll send you some listings. There are some search parameters and words I can use in MLS that can help to find otherwise overlooked properties.