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!
Michele R. Eddy
Single Family vs. Multi-apts. - Posted by Kris
Posted by Kris on October 13, 1998 at 03:33:25:
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?
Thanx for your time.
Kris
Which do you want? - Posted by Michele(MI)
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.
Happy landlording!
Michele R. Eddy
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.
Re: Which do you want? - Posted by Kris
Posted by Kris on October 14, 1998 at 20:34:20:
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.)
Does that in any way sound unrealistic?
Kris