I have a downpayment for a 13 family property that is cash flowing (there are other similar properties in my area that are possible candidates too) but I'm also asking myself if BRRR would be better option to acquire several 1-2 fam instead; using the BRRR strategy. I could buy the multifamily but I would use all my saving on the one property. I was also thinking that maybe I could get a 1 or 2 family for cash using the BRRR and then continue buying using the same money and strategy.I am already a landlord all 1 to 2fam, don't own commercial properties yet, I do have a job and good credit. Any ideas? Thank you
@Indra H. I would personally say do the 13 family property. In that scenario you have 1 roof to replace along with other expenses that you only have to cover for one property. Also, going along with the 13 family property you have a better way to cash flow if you occupancy rate drops a bit. I hope my opinion assists you with you decision.
Thank you Anthony, it makes sense
It really depends how much time and energy you have. The 13 family will definitely be a lot easier to handle. BRRRRing is awesome, but when you are starting out (and not named David Greene lol), its a lot of work, and also can be very risky depending on your neighborhood, team, and size of rehabs. Also, deals these days seem hard to come by. Just my two cents.
@Daniel Kong thank you, yeah the team situation is uncomfortable. I flipped successfully last year, but got some contractor asking for a husband to give me pricing 😱