Single Family or Multi for BRRRR

[Ryan Hoehn]

If you want to get your hands into a mix of things slowly but gradually, would a single family home or muti be best for a BRRRR opportunity?

Thanks

[Jaron Walling]

@Ryan Hoehn Depends on your market, experience, budget, and long term goals. If you're new and flexible house-hacking is an incredible way to get started. You could buy a distressed, barely livable duplex, renovated the units, and complete a BRRRR while seriously reducing your cost of living. It's a hurdle to jump and pitfalls to avoid but the reward is proven. Long term you could keep the property, CF, or sell and pay no capital gains.

If don't want to live next to tenants you could BRRRR single family. When I stared I renovated a house in about 6 months, lived there for about a year, refinanced, and moved out. Today it's a good LTR. I choose that path because I couldn't find a distressed duplex and I was tired of waiting! In my market the good multi-family properties on nice streets sell fast for the reasons mentioned above. People are desperate to cut living expenses. It's even worse right now.

Regardless both properties and BRRRR require sacrifice. Ask yourself what are you willing to sacrifice? Noisy neighborhoods, sweat equity, long nights, living in a construction site, stepping on a rusty nail, or cash trapped in a deal? There's a chance it happens if you want to learn.