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Updated almost 9 years ago,
First Purchase: Single Family Homes OR Multi-family Home
I'm looking to buy my first home by the end of this year or the beginning of next. I have good credit and some money saved up.
My question: As a beginner in real estate investing and never owning my own home, should I invest into a single family home, repair it and then rent it out or should I invest in a duplex fix it up and rent one unit out and live in the other?
Currently I'm living at home with my parents no bills just a car payment and a small school loan that I am paying off and will be done by the time I make my first purchase.
I plan to put 3.5% down and finance the rest.
I would like to know the Pros and Cons of both.
Please help!