Multifamily Investing vs single Family
Hey Team,
I have always wanted to be in real estate investing as it went hand in hand with being in construction for years and us owning a construction business. Few years back an opportunity fell into my lap and I was able to purchase two smaller single family properties from a family member 0 down and at 2% on the loan both houses and around 2.5 acres of land for 80K. I did not run the numbers at all and got excited and jumped at the opportunity. Now I am still learning everything and trying to figure out my numbers on both of these houses so I can continue to make money as needed since they are older houses and the repairs are starting to add up. I am fairly certain I priced my rent to low for my area. I have a couple questions to ask:
1: Would it be wise to sell the houses and got to multifamily such as duplex or triplex or keep these and use them as assets to be able to do the multifamily and add to the portfolio I already got.
---- I live in a college town so i feel that doing the multifamily route will give me a better return the majority of the time vs single family property.
2. How do you determine the rental value? Do you have real estate agents come and look the house over and tell you what they think its worth?