New Investor in Pleasant Grove, UT
Hi everyone, My name is Cody Wright and I am new to REI. I am looking to invest in multi-family rental properties and am strongly considering living in a unit to get a lower down payment. Since I have a family I am finding this difficult to do in a price range that seems feasible for my situation. I have great credit but not a lot of money to get started. I thoroughly enjoy reading what the BP community has to say. As part of my hello, I also have a question for the group. Is it a bad idea to purchase a brand new (to be built) fourplex in a new development as your first investment property? Obviously all of the numbers are hypothetical that they are providing but they are pretty accurate to what the rents are in the area. The purchase price is high at $600k but the units are townhome style units and I would be owner occupying one of them. Any thoughts would be greatly appreciated.
Thanks for all the great posts and articles you guys provide to gleam from.