Posted by Michele(MI) on October 14, 1998 at 22:16:04:
Kris:
Anything is possible and anything can be made realistic. I’d love to buy a 4-9 unit, no money down, have a property manager take care of it and have a nice positive cash flow. But in reality, I’d probably have to manage it for a little while at the beginning.
Nothing ventured, nothing gained. Try to put the best deal for you together. Go for it!
I’m new, very new in the real estate business. I decided to clear off the dust from an old carlton sheets manual/tapes and give another go at it. I have a question I’d like to pose to anyone of the more experienced investors out there. which do you think would be better for me: to try and buy a single family home and rent it out or to buy a 4 or 5 unit apartment building to rent out(obviously)? aren’t the tax and refinance benifits better for a single than for an apt. building?
Posted by Michele(MI) on October 14, 1998 at 09:03:42:
Kris:
The questions is, what do you want to do?
Landlording a single family home versus landlording
a multi-unit are quite different. The SFH will
probably be geared to a family and may stay longer
than 12 months.
However, the multi-unit, by it’s nature, attract
people that are rather transient. There is alot
more landlording to a multi-unit, but they can
also offer much more cashflow.
Learn about landlording from Mr. Landlord, at this
site (Jeffrey Taylor). Then decide which type of
house YOU want.
Re: Single Family vs. Multi-apts. - Posted by Vance(Canada)
Posted by Vance(Canada) on October 13, 1998 at 14:31:37:
Kris:
I’m not an expert but I’ll tell you what I’m doing…I am in the same position as you. I am in the process of getting my first deal together, a 4-unit. I will be living in one and renting out the rest. The rental market is excellent in my area and I expect to live rent free with a positive cash flow of about $100. I work full time therefore I especially like a tax advantages. Even if I lose money I’ll make money with the unused tax write-offs applying to my regular income.
I especially like small multi-unit properties for the income and resonable liquidity, but I would like to eventually trade up to a larger building (12+) to make management easier and the related economy of scale.
Actually I wouldn’t mind a 4-9 unit appartment building that either I could manage or have a mgmt. co. manage it for me (provided I can come out with a positive or at least a break even C.F.)