Single family or apartment buildings??

Question

I have 7 single homes should I keep buying singles or jump to multi family??

I think what grant Cardone said make sense and I should focus on apartment buildings

Rick P. · Answer

Congrats. You have only made 7 mistakes before jumping to multi-family. I made 60+ before I made the jump. The time for buying sfh’s has passed. Take advantage of the market and unload them. Then do yourself a favor and find anyone but Cardone to listen to.

Good luck on your journey.

Theo Hicks · Answer

@Rodrigo Cisneros if you start thinking about investing into multifamily properties you should start by educating yourself on what it takes to acquire one. Grant does a good job with his teachings, but you need to get in depth with information, grab “Best Ever Apartment Syndication Book”

Eric Lau · Answer

I own both. things I do not hear with muti units...who is mowing the lawn...what lawn?

Door for Door multi is cheaper...but the property is more expensive...did that make sense?

Multi Pro: units can be a little dated and still be rented.  backup rents to make payments if a unit is vacant.

Multi Con: Water, Sewer & Gas bills carried by the landlord.

Single Pro: Higher Rents & longer staying tenants depending on your area

Single Con: vacancy and holding cost.

Anthony Rosa · Answer

Its a personal preference but id say MF (3-4 units) however, MF does have its headaches that SF don't have.  SFH pay the water/sewer bill, take care of the lawn, remove snow, no complaints of the upstairs neighbor making noise, no parking issues, no backyard issues and the tenants typically stay longer which means less turnovers.

IMO if going into MF go with 3-4 units.

Hadar Orkibi · Answer

@Rodrigo Cisneros is personal choice.

BUT if your aim is to have passive income from real estate by having many doors/ many tenants paying you rent then why not scale it up faster by buying few doors in one deal?

Depending on your financial situation, you can scale up by buying 3- 4 plexes (residential 2-4 units) or go larger with 5 or more.

It is no brainier, the economy of scale juts makes it much easier to achieve your goals.

I do suggest you get your self educated on the Multifamily subject. Choosing a coach is well worth it, shorten your timeline for success while avoiding mistakes.

Tj Hines · Answer

@Rodrigo Cisneros without a doubt jump into multifamily. Waaaayyyyy too many advantages in multifamily compared to single family.

Chris Grenzig · Answer

@Rodrigo Cisneros there are pros and cons to both, really depends on what you're looking for. It's easier to get to 7 doors in one transaction than 7, usually management is easier and cheaper, and several options for savings with economies of scale. However, there is also the downside in that you're putting more resources into one property instead of several (regardless that it's the same doors, it's the same property), if you don't have all capital available now it you could be priced out, and just a different approach.

I prefer multi than single because we do 100-500 unit properties so it makes sense, but if I was doing it locally, managing myself, and had some time, I think I would explore both options and not limit myself.

Alina Trigub · Answer

@Rodrigo Cisneros

I agree with your choice, except for I would not jump into anything without educating myself first. So start by learning as to what it entails to invest in MFH. Keep in mind the difference between buying residential vs commercial MFH!

My best!

Ian Walsh · Answer

It depends on your systems for management, how deep you can buy and the cost of long term money if you are using leverage.

Rodrigo Cisneros · Answer

@Rick Pedi

Love Grant Cardone

Thank u Rick

Single family or apartment buildings??

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