First time posting. I'm new

[Roseline Pierre]

Hello everyone I'm happy to be here. And there are a lots that I'm still learning. I just need help for a question since lots of you already been in the game. My husband and I, recently purchase our first home to live in tallahassee. However my name is not on the mortgage  because I don't have an income yet but I'm a pre nursing student who plans to invest a lot in RE in the future. Would it be better to sale our first home and use the cash for a down payment on a quadruplex or more units and live in one of the unit? or rent it room by room to students (since we are in tallahassee) and then get the equity on the house to finance a triplex or quadruplex?  my goal is to have lots of unit then after that build our dream home. But Im just trying to figure out what to do next after our first mortgage.

[Michael Dumler]

@Roseline Pierre depends on what your market offers. Acquiring a 2-4 unit property can be much more difficult than people make it out to be. Oftentimes, you're competing against other investors that may have cash on hand or a stronger loan product that's more appealing to the seller. Specifically, when did you purchase the home? If it's been less than a year I do not recommend selling right now. Being so, I would suggest exploring the rent-by-the-room strategy first. As a new landlord, this will present the least amount of risk while your roommates/tenants pay down your existing mortgage. Once you build equity in the home, refinance or pull a HELOC once rates fall to use as a downpayment for the next investment. Hope this helps!