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Updated over 8 years ago on . Most recent reply

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59
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Kyle Spinale
  • Lambertville, MI
15
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59
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Duplex, Triplex, or Quad?

Kyle Spinale
  • Lambertville, MI
Posted

I plan on moving out of my parents house sometime next fall. I don't want to get an apartment, I'd rather house hack. This will be my first real estate purchase, ever.

When it comes to small multifamily properties for first time buyers, is there a certain property that I should go with? Or should I go with whatever I can find the best deal?

I would prefer to buy a duplex, triplex, or quad because the financing is similar to getting a regular home mortgage. 

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6
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3
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Ashley Rice
  • Farmingdale, ME
3
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6
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Ashley Rice
  • Farmingdale, ME
Replied

I am new to this, but from everything I have found and heard on the BP podcasts, you are better off going with a quad. You can use a residential loan if you live there which helps. Also as long as the deal is right, if you end up with a vacancy, more units allows you more wiggle room in your financial burden for the property. I hope this helps. 

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