Single Family Fix and Rent or Multi Family Fix and Rent

4 Replies

Hi everyone first time posting hopefully I can get some sound advice ... Looking into purchasing my first property ... Just having a dilemma between buying a single family house i can fix up and live in for a bit eventually move out and rent or just go and buy the multifamily unit that most likely will need fixing and live there for a bit. Which one sounds like the better deal? The house is in a good neighborhood just needs some repairs and I believe I can increase the value of the house with a few renovations. But I believe the duplex or multi family unit can ease the burden of having a mortgage payment all on me. Any advice would be greatly appreciated.
@Luis F. Escoto Multiunit is my vote if you can find a decent deal. More units helps defray vacancy and repairs. Plus if you live there you can get better loan terms. Just be aware it's more money for repairs and more things that can break