Hey guys! So I need some help. Still in the beginning investor stages but I have recently moved to a new city in Texas with only about 35,000 people and I am looking for some multifamily properties but I am coming up short. I am leaning to try my luck with single family properties but as you know single family comes with more risks. Would you go the single family route or stick with the multifamily route and keep looking? What do I need to look for in potential single family properties?
We are mainly multifamily investors and I do feel that the more units you have, the less volatility you will experience. With that being said, many SF landlords experience much longer term tenants than MF landlords. In some situations I believe you are also getting a higher caliber of renter in a SF; however when it is vacant or the renter stops paying, there is no income.
I would look for good, quiet, residential areas where the majority of other properties are single family homes. Don't purchase a house that is an odd layout or is very small or very big; think 3/2 or 4/2.