Moving up to Multi family from SFR
So have 5 SFR's under my belt and handle most of it myself - they are all in good areas of town and knock on wood I have had some pretty good tenants. Things go wrong but they have been understanding and I have people that help with plumbing or other issues.
I want to move up to 4 plexes but hear horror stories of course. I know the tenants in a 4 plex are paying less than in a sfr so you are getting different types of tenants. Also I know many may be out of work or making less due to covid 19 so I have to assume 4 plex tenants who didn’t make as much before may be making less now or have possibly been laid off.
But even before that I just know from deductive reasoning the tenant in a sfr I’m collecting $1,495 a month from is going to be different from the 4 plex tenant I collect $600 a month from.
I know sfr are easier to sell if need be and have greater appreciation. However know the cash flow is potentially much greater on multi.
I want to expand and keep going. 4 plex then 6-8 plex, eventually heck a 100 plex.
Help me get past the doubts? Thanks.