weigh in on sfr vs multi
Hello;
Looking for some thoughts on how this relates to the metro east area specifically. A buddy of mine and I disagree. He is taking the position that in our area because of Scott AFB SFR renting in the 1000 per month are the way to go.
Look at two deals:
1. a SFR, bought for 55,000, rehab cost was 25,000 putting the total cost at 80,000- renting out today at 1,000 per month.
2. a nice all brick 4 person mini apartement, cost 110,000 - slight rehab of an additional 10 putting total cost at 120,000 - each unit rents out for 450.00 per month.
I feel that the risk is less with the 4 unit, he feels the other way. What are some of your thoughts?
Joe