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Updated about 8 years ago,
Im a total NOOB: Investing in Multi-family homes.
Hello BiggerPockets People,
So I'm throwing my self out to the wolves and admitting that I am a total noob who has been reading book after book, non stop podcasts, and soaking in as much information as I can about investing. Im about 6 months in now with my studies and just keeping up with my due diligence and also saving up money before I finally pull the trigger. I am from northern New Jersey and planning on investing in Multi family homes. As I am reading right now a thought popped in my head and I said I'll see if I can pull some info from BP. With all this said I will ask my first ever question on BP!
I am interesting in planning with a multi family property preferably a 4-plex if I can figure out the financing part of it. Worst comes to worst I was thinking about "house hacking" anywhere from a 2 family to a 4 family home.
Is a property manager necessary for my first multi family property investment? If not, what are some suggestions of how to run the property smoothly and dealing as less with it as possible?
Don't get the wrong idea I am not lazy, but I also don't want to play landlord. I want to keep my role as an investor. Consider that I already am running a business of mine and managing that as it it. Time is very limited to be dealing with tenants. If everything goes as plans I would eventually like for these investments to allow me to make the transition to full time real estate.
like I said I'm new and I'm trying to get my feet wet and I know this is great place to start.
Thanks in advance guys!