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Updated over 8 years ago,
Multi family now or later??
I'm a first time investor, and have been researching and learning about REI, and I thought I had formulated a plan, where I would buy a multi family(ideally a fourplex) live in one and then rent out the other units. But I still wanted to figure out what i wouid do about financing,(I was leaning towards and fha as that only requires a low down payment and wouid leave me money for repairs, and possibly another investment property) and also how to find the deal, as Id like to buy an REO multifamily.(I wanted to find a real estate agent that specialized in working with investors on multi family bank owned properties) But then I realized that i 6 months left on my lease of my appartment. Therefore now I'm thinking I should buy a single family, either at auction or find an REO. rent that out, then in 6 months find a fourplex and move into that and rent that out.
I was hoping some of the very knowledgable and intelligent people on here could help?
Thank you for your time reading this post!
Barri