I’m ready....but where to start.

[Lorina M.]

Hi BP! My husband and I are looking for our first deal. We plan on partnering with my brother and considering multi family (3-4 units). We turned our starter home into a rental property which was almost 3 years ago. Now......we are ready but not really sure what is considered a “good deal” for a multi family unit. Here are our goals and questions: Multi family investment #1 - Immediate Cash return. Questions- 1.What would be a good cash return for multi family(is is as simple as breaking down the units and seeing them as SFH and considering the return per unit?)? 2. Does the 1% rule hold true for Multi family in regards to rent vs purchase price? 3. What are some creative finance options After we purchase our 1st property the goal is to reinvest and continue to purchase more multi family units. Any insights, what to watch out for , definite do’s and definite do NOT’s are welcome. Thank you in advance.