Hi everyone just wanted to know if i should get a Single house because the multi where i live are going so fast i don't even have time to see them since I'm a first time buyer I'm a lil slow which i understand but wow i found 3 deals all 3 of them got taken away because 2 were paying cash and the other one had 25% . My agent want me to get the very few deal that's left i dont want to because their are not that good i ran the numbers they are not ok. so I was wondering should I get a single instead than work on the multi later ? Any suggestion?????? pl
Real estate has been very competitive as everyone trying to jump in. It has been difficult to find good properties and you have to be quick.
Before you decide on the single or multi, know why you want to get into real estate investing? Are you interested in cash flow or appreciation? Do you need immediate cash flow or can it wait? What is your appetite for rehab? This is going to be your guide throughout your roller coaster journey and will keep you looking forward through the good and bad days. After you know your why, work backwards to establish short-term and long-term goals to help you accomplish your why.
Do any of the properties in your area accomplish your why and goals?
"Multi" is almost always the answer on these kinds of questions @Loubert Jean Philippe . Economies of scale almost always makes it worth it.
Aside from that, it sounds like you may need a new agent. Your agent shouldn't be pushing you to do anything, especially if you already stated they don't fit your criteria.
If nothing is working for you, it may be time to step back and get some more savings together so that you can make more competitive offers.
@Filipe Pereira thank you for the advise I guess imma think about it. I gave myself a time frame so I wanted to do it but I guess I do what I have to do.