Looking for my first deal - Multifamily Property

[Joaquin Soto]

I am currently a Civil Engineer but I am very intrigued to get started in the real estate world, on a part time basis. I am very excited because of the high ceiling and opportunity that real estate can provide; in fact it has no ceiling or peak to reach. I am in the Milwaukee WI area and I am looking into buying my first property by mid 2016. I currently rent an apartment, so I can either buy a single family home for my wife and I, or I can buy a multifamily property. I have read that you can obtain good financing opportunities for first time home buyers and can buy up to a 4 or 5 unit property and still get this sort of financing. Any recommendations? It seems straight forward to me. If I buy a single family home I will not be buying an asset, like Kiyosaki says. However, if I buy a multifamily property, I will be buying an asset and the property will pay itself. Furthermore, if I do the first time home buyer financing, I will have to live in one of the units of the property. Any advice?? Should I buy a 2 unit property or hold out to buy a 4 - 5 unit property?

[Ramon Jenkins]

My suggestion would be :

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

duplex

Three plex

Four family

Owner occupied for one through two years.  

Afterward purchase a sfr for your family 

Make sure you are on the same page as your significant other