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Updated over 9 years ago on . Most recent reply

User Stats

8
Posts
0
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Joshua A. Lenninger
  • Contractor
  • Menifee, CA
0
Votes |
8
Posts

Looking for some advice before jumping in

Joshua A. Lenninger
  • Contractor
  • Menifee, CA
Posted
Hello all, First I would like to give you a rundown on my situation. I'm interested in investing in multi family, have been for a while just haven't taken first step quite yet. I've been spitballing ideas a little and not sure which route Would be best to take. I'm definitely set on multi family properties but not sure if I should jump right into it. I also might get into flipping eventually due to construction background. I currently pay rent living in an apartment with my wife and kids, but I plan on buying first property in the near future. So my question is, should I either; 1-start off by buying a home for my family, move into and renovate, build equity, refinance/sell, reinvest. 2- buy multi family and continue renting to tenants, collect and stash away the cash flow from property, reinvest or 3- buy multi family property and live in one of the units, renovate and build equity. Plus I can save money due to low balance on remainder of mortgage after collecting from tenants, and reinvest. Any and all suggestions welcome Thanks.

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