1st rental investment property type?

Question

For a 1st time investor into real estate. I would like to rent out a quadruplex. Does anyone have any pros and cons that they could share that how help me with the decision that I am about to make?

Rob B. · Answer

Given what I've seen on here on BP, sounds like there is some benefit to starting small -- at the end of the day comes down to your bottom-line business objective; personally I'd start small simply because there are things you're not going to necessarily know to look out for without the experience of the first one. Some mistakes can be more costly than others. Just something to think about! @Keith Odom

Matthew Meikle · Answer

@Keith Odom FHA will do owner occupied loans on up to four units. The terms are very appealing.

If you do a loan with them, you'll need to live there for a year minimum.

As far as viability, many on BP consider the owner occupied plex to be the best place to start for a new investor.

Ben Sears · Answer

@Keith Odom I don't have any specific advice for you on your multi-plex but you should definitely go check out the BP podcast show number 55. Towards the end of their interview they talk about financing and how it's beneficial for new investors to start small and move up through duplexes, tri's, etc. The lenders and underwriters look favorably on this experience as you move up through bigger and bigger properties. This may be of some interest to you as you get started. Good luck!

Keith Odom · Answer

@Nicole Heasley no

Nicole Heasley Beitenman · Answer

Will you be living in it or is it a pure investment property?

1st rental investment property type?

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