Does anyone have any guidance on this?
I'm looking to essentially generate a retirement income. I currently own a duplex that is fully rented and have had it for about 6yrs. I do have a little experience and do all the repairs myself.
I'm looking to heavily invest in more rentals in a couple years, but am unsure on which direction I should go.
I suggest you should narrow down you choices, your experience is a big plus. SFR will be the easiest to get into but long term will have the most management per dollar costs. Long term most of us want the freedom of someone else doing all the management. Your personal goals will establish which of these investments will make the most sense for YOU. But... Economy of scale, go bigger than you have now (fourplex or a small apartment building if you have the available capital) just don't get too eager and make a bad investment. Good deals will come to those who search and take action.
Best of luck!
Thank you very much for that information. I'd like to have someone manage it all ONCE i've got to the point where it makes sense, but I'll probably manage and do repairs on my own for a while. I think that I agree with the larger rentals. Perhaps I'll look for something like a 4 plex to take that next step in scaling up and then after that look at something larger 10+ units.
The one thing that made sense to me about the SFR was the easy exit strategy and increased value with the market vs the rough value based on the rental income. The other thing about the SFR is I typically see those tenants stay quite a bit longer than multifamily rental.
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