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Ok - So I've been getting ready to get into REI like most people on this forum. I want to start buying multi-families up in and around the state I live in. I wrote up a business plan and starting to form a LLC - Now that I'm almost ready I'm getting cold feet.

My wife and I are expecting our first child and while we are really pysch we are now scaried to take risk with our money.

What are some other peoples thoughts.

A mortgage company will use 25% for vac and expenses, but I always use 33% to make sure I cover ever detail. This does not include insurance, PMI, or your mortgage payment.

I want hurt to meet with him - but what ever you do don't give any personal info...

Don't pay any money up front and if it sounds to good to be true...Well you know the rest...

My brother goes to grad school with no job and he got a higher mortgage then I did (with a ful-time)...Just accept to pay a higher then normal interest rate or have you parents co-sign...

First I wouldn't put that much pressure on the situation. It could lead to bad choices that are emotionally driven.

Second, starting out is more then just reading books. Spend sometime working the numbers so you understand the process. Second, join you local REI club. Third, write a business plan. Write what you want to accomplish, rehabing, landlord, bird-dogging...Write it for three years down the road, where do you see yourself...

I would also suggest if you want to quit your job and just do this to get a part-time job just to make sure you don't have all you eggs in one baseket until you have been doing it for a year or so successfully. A part-time job at Home-Depot or Lowes would be ideal, because the offer insurance and discounts...

Can you go into a little more detail? What cause your mulit to be a problem? etc...

So, I have look at 50 or so multi-family now I'm narrowing my search once I looked over cash flow. When I make a bid I want to ask a question about financing...I have about 80,000 in equity in my current home so should I refinance or take out a Home Equity loan?

Can you give me pros and cons of both.

Thank you

Thanks for the info, but not really what I was looking for. This articles are nice but short and brief. I'm looking for some expert advice on what path they would take.

Condo is less expensive but has limited profitability, well multi-family could make more money but also provide more work..

Just looking for someone's opinion on the matter.

Ok, well let you have probably already heard before I'm new to investing and would like to get it rolling soon.

I understand that the market has slowed down so I'm looking into getting started with rentals instead of rehabs.

I have owned two houses in my short life time and maybe 70,000 on my last house when we sold it (live there for two years)..

We used that money to buy our current house.

Ok so here is my question:

I'm looking into rentals but I would like to get my feet wet - so should I buy a condo and rent that out or a multi-family home instead?

A condo would cost less and be easier to manage, but is there more protential in a multi-family?

I'm also planning on join my state REI club next month so any advise now would be great.

Thanks