Sterling, MA · Member since 2016 · 5 posts · 1 vote
I am looking to buy my first property and I have mostly focused on single families, but have been thinking more about Multi-families of late, especially after listening to Bigger Pockets podcasts for the past couple weeks. I found a 2-family listing that looks pretty good, it is located in a single family neighborhood and it looks like it is the only multi- in the neighborhood; is that a good or bad thing? Are there any potential drawbacks I should be aware of for being the only multi in the neighborhood? Thanks in advance for any advice!
Actually, with regard to the multifamily unit being the only one in the neighborhood could be looked at as being positive, due to the fact that tenant competition is non-existent with other multifamily properties.
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I'm still new but I've been searching duplexes and fourplexes. In my area I've found that many (not all) MF properties that are "mixed in" SFH neighborhoods are nicer (and pricier) than those clumped in a pocket of MFs.
My advice (as a newb) is that if the numbers work it could be an excellent opportunity, but make sure the cash flow works with both sides rented out (non-owner occupied) and with property management fees. Otherwise you might be getting into a trap.