First time investor: Condo vs Multifamily

[Vandan Mehta]

Hello, I am a first time investor and started to look for the investment opportunity. One thing I realized is I can only afford a condo in a good location right now. And my goal is to have a good cash flow and hold long. So is it better to start with a condo as first investment property or wait and save more money and then buy the multi family property? Thanks..

[Allan C.]

@Vandan Mehta depends on your resolve and what you mean by multifamily. Many investors regret not scaling to large MF quickly, but I think most ppl need to walk before they run.

I generally discourage people from investing in condos for a variety of reasons, but I also think a new investor should not bite off more than a duplex to cut their teeth. So I suggest getting a small SFH or a small duplex to learn the ropes.