Commercial or Residential?
Hey everyone I've got a question!
My business partner and I are having a slight disagreement about what to jump into first. We have access to a $250,000 HELOC and $65,000 cash on hand we are willing to invest.
I have owned two residential rentals in the past and have managed them both myself, I am at a point in my life where I do not want to do that again.
Our first deal together will be her first deal.
We have both been studying real estate investing all year long and plan on pushing for our first deal as of January next year so our finances will be aligned.
I am leaning more towards a quad plex minimum or to even attempt to push into commercial size rentals instead or even try and find a small strip mall since I've read multiple places that commercial is a lot more beneficial and it's easier to manage businesses rather than tenants (but with the right property management I suppose neither of those points matter)
She would rather start smaller, still multifamily but a duplex or triplex max due to simplicity and to get our feet wet first.
All in all I'm not too worried about starting smaller BUT would like to see what you guys would do if you had the same finance options that we do.
I'd appreciate any advice or feedback! Just wanna see what your thoughts are! Thanks a ton!
-Scott