Eager to start the process of purchasing my first multi unit.

[Diara Campbell]

Hello everyone, I am very eager and serious about starting the process of purchasing my first multi family home. I currently work for the department of education and i am looking for a way out through passive income. So i saved my money and worked all last year to get my credit score in good standing. I am very serious and would like to get the ball rolling. I have read alot of books as well as read a lot of forums based on all things multi family units. I have an idea of how to get started but i am always opened for some great advice. What i seem to be a bit apprehensive about is actually starting to the process. I have so many questions as in, in order for me to start getting into a multi family unit, do i have to get a mortgage? If so, after i apply for one, where do i look for multi family units exactly? I know the market i want to be in which is New York. But do i use a real estate agent to help me find a home so that i speed up the process? Is there anyone on this website that would be interested in helping me along the process? All help is greatly appreciated. Thank you all in advance 

[Scott Wolf]

@Diara Campbell, where in New York do you want to be? What are your long term goals? Do you want to have long term rental income?  If so, house-hacking is a great start.

If you have the cash in hand to buy a property outright, you can do that, but leverage usually amplifies your return.  Getting a mortgage pre-qualification will give you a better idea of what a bank will lend to you, and therefore help you define your budget.

I'm happy to chat further to help you move along this path.