First Investment property

[Paul Schackman]

I am relatively new to BP, trying to narrow down my first move. For awhile I thought I thought the best course of action was to look at multi-family homes. I've recently come across an apartment in Westchester County, NY for a great price and doesn't need and was recently renovated. I don't like the idea of paying HOA fees but after HOA and Mortgage I would still be able to profit around $600 per month and have a ROI slightly over 10%.

I just wanted to hear about what people thought about apartment rentals compared to multi-family for a first time investment.

[Zachary Capehart]

There is going to be less moving parts so it can be a good place to start. As long as you did your numbers in detail and do have a projected return of solid 10%, I don't see why you shouldn't pull the trigger. 

I'd defiantly dig deeper into the HOA. Sometimes they're are easy to work with sometimes they're not. Are they going to be friendly to the fact that you are buying it as an investment and not owner/occupant?