MULTI FAMILY FOR MY FAMILY

[Phillip Gonzales]

Hey everyone

So I am in the pursuit of a live in 4 plex but I have a family including a new daughter and I am concerned about buying a multi in not such a nice area for them. I am finding many deals where cashflow is doing $200/ door. The issues however I keep running into Is buying same size quads for 100k more to be in a better area vs buying lower end quads for a smaller price. Since I plan on living in 1 unit for at least a year I figured I would spend more $$ for a better quad. After the year is over I plan to buy us a SFR to live in, but I feel a little nervous by buying a lower end property since I will be living in it with my girls. Prices for nice quads are in the mid 200s vs low end quads of mid to low 100s. Anyone's input or experience I would appreciate thank you!

[Jon Holdman]

IMHO this is the biggest flaw with the owner occupied multi approach.  You often have to compromise between your requirements for an investment and for a place to live.  And, because you want this as a long term investment, its the "place to live" requirements that have to be lower priority. I don't have any good answer other than I just think this strategy is not always the best.  Your situation is one where you might want to come up with a plan B.  Such as, buy a good investment and rent something for yourselves.