I am fortunate enough to have a decent paying job and at the moment I am putting money away to launch my investing career full on. I am currently able to put into savings $20K to $25K every 3 to 4 months. My question is, should i buy a 2-4 family home as my first (i do not intend on house hacking) or should i wait it out longer so i can save money and aim to buy a 5+ unit. my end goal is to have 200+ Doors. Thanks in advance for input!
@Joshua Rodriguez - I'd pick location first, then determine what return you would want that will help you determine your size. Start with what you want to accomplish with your first deal and work backwards.
Also, it depends on how you plan to manage them. Several people consider real estate as a mailbox money business. It takes a lot of WORK to find, close, and operate deals even if you outsource some of it.
definitely, so since I currently live in California I will be doing out of state purchase. I am interested in Add Value properties, and I also will be using a property manager. I am not afraid of work and I look forward to it, I’m just stuck wondering if I should not be patient and get a smaller deal quicker, or be patient and save more to get a Bigger deal later. If I wait then I’d like to have about 100k to 150k for a down payment on a bigger multi unit property.
hadn’t thought of that option I will consider this for sure thank you
I think the answer is purely in the numbers. Which option will offer you higher returns?
Valid point, I guess I will just be patient and wait to acquire a bigger property. Thanks to every one