Paying on a muti-family
So I’m a new investor looking to buy a multi family. Now when I use the calculator since I’m going to have to put 3.5% down I run into a high mortgage. In short that high mortgage is causing me to be negative in cash flow. Now if I have to come out of pocket on a mult family property a couple hundred bucks, is that better then not having a property at all and saying forget it? Kind of need some advice on that!
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@Taylor Smith some people are fine with negative; it is not for me. How can you pay all the bills and build up reserves (to redo that roof etc)if it is coming out of your pockets which may be pretty empty to begin with. That is how investors wind up being forced to sell and devastated. That is an ugly business you do not want any part of. Build up some cash and don't bite off more than you can chew. To answer your question directly my advice is don't jump into deep water without adequate life preservers. All the best.