Is buying a six unit building a good first investment?

[Cody Taylor]

Hello everyone, I am just starting out and have my financing in order to buy my first rental property. With that being said, I believe I have found a good deal on a six unit building that currently has tenants in all 6 units and from the calculator appears to be cash flowing at current rent rate. It appears that the rent rate is low for the area and could be increased once minor renovations take place. I guess my question is would it be wise to purchase this property as a first time buy? Any help would be appreciated, Thanks!

[Andrew Carlson]

@Cody Taylor

Yes! Go for it. Don’t let people fool you into thinking there is something mystical about it being a commercial deal. Collect the rent, pay your bills. Bingo bango bongo.