Updated about 9 years ago on . Most recent reply
Single Family Home or Multi-Family First?
So I am a complete rookie so any and all information is truly appreciated. Can you guys help me to decide how I should make my first step in real estate investing. The short and simple of it is that I want to become financially independent and I know real estate is the best way to accomplish this goal. When all is said and done I would like to have enough rental properties to generate a good cash flow. So I have two questions, first whats your opinions on the most efficient way to get to that point. Second I am going to start looking for our first house, would you suggest multifamily or single family flip? I am leaning towards multifamily, but mostly because I do not want to pay another 6-7 grand towards a mortgage that is not mine.
Most Popular Reply
I would do multi family first. You can live in it while your tenants pay your mortgage. Save some money on living expense and put toward your next property.