21 and what rental portfolio? single or multi? Tough are

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I'm 21 and out of college with a full time job and saving for a down payment with help of a grant from my bank. In ten months the bank will match up to 7,500 dollars that I save which I plan to use for a down payment. I would like to live in a duplex and house hack then rent it out when I move to my own home. The dilemma is I have been looking for over a year now at what is out there and there aren't many small multi-families for sale in my area. Especially ones worth buying. I ask should I try doing single family rentals. Buy a house, fix it up, then rent it out or should I keep looking for multifamiles. I'm not in the hunt for get rich quick but to build wealth for my family when I'm older. My future self. I would love to get my rental portfolio started anyone way possible. Thanks for the help

Hi @Josh Brosius , I would say take what the market is giving you. My dad grew up in N Tonawanda and if I recall there were a ton of small SFH like my grandparents lived in. All blue collar factory workers at the time. If the numbers work you can house hack and rent out rooms instead of apts assuming you can deal with that situation. Not sure if you are looking bigger than duplex but a 4plex still can get an FHA first-time homebuyer loan and you house hack that way. I see a similar landscape in Syracuse where there are a ton of SHF but not many small buildings that appeal to me. Starting to look at Rochester since there seem to be some good mixed-used buildings in the city and I want to scale up. Good luck!

Are you working with a real estate agent yet? There may be deals coming and going before you even see them.

Hey Josh,

Multi families can be tough to find in a decent area for a good price. I'm an agent and I've had better luck from FSBO's on Craigslist/Zillow than the MLS for good deals on multi-families, so I'd suggest giving that a try. But, single family rentals can work out really well too, especially if you can BRRR it.

Best of luck!

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