Hello trying to get into the market. I would like to know is there a preferred method of buying multifamily or single family for my first property?
Hey @Jerome Shantelle Steele , I would recommend doing a duplex first. In my opinion, there isn't much of a difference between a duplex and an SFH except a duplex with having better cash flow. This will depend on your market though and what is commonly available. Also, it is a very strong seller's market and duplexes don't have the level of competition as SFHs do.
@Brad Hammond thank you that was good advice. Do you know what’s the buy in for multiplex?
Sure. I can't speak to other markets outside my own but a duplex might not be more money than a single-family home and you would be getting more rent and better economies of scale. there is only one roof to replace, half the vacancy vulnerability, and you can use 75% of the rents towards your debt to income ratio. The lender is going to look for the same 20% down for both SFH & MF.
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