Hey Wymeshia, it depends on what you're trying to do. If you currently don't own your own home, I would recommend purchasing a house first and house hacking it. Its a great way to get into the world of real estate investing. If you're completely apposed to house hacking, there is nothing wrong with buying MFHs, it will likely be a greater learning curve though.
Hope that helps, let me know if you have any questions!
Hi Wymeshia, great question! Like Kamil said, it depends on what you’re trying to do. Although I’m new to the real estate investing world I would say the best way to get started with Multi Families is by doing a house hack and living in one of the units while renting out the others to help cover your living expenses. One could get into a whole lot of detail about strategies for investing in Multi Families, so if you’d like to talk more let me know!
@Kamil Baldyga I am wanting to purchase a home, but I also want to purchase a multi to let people rent it out so I wouldn’t have to worried about paying a mortgage when purchasing my first home.
You’ll likely want to connect with a mortgage lender to determine what you’re pre-approved for first. From there I would do some market analysis to determine what a good deal looks like in your area. If it’s anything like Louisville, KY finding a good deal on a multi-family will be tough to come by without connecting with other investors/agents in your area to potentially find an off market property.
@Wymeshia Rob The best thing to do would be house hacking a multifamily, it accomplishes all your goals of owning property to live in but also owning rental properties. Reach out to an agent in your area to see how many multifamily's are available in your market and go from there.