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Updated almost 6 years ago on . Most recent reply
BRRR or turnkey 5 unit for first investment?
Been searching for my first real estate purchase for a few months.
Would you recommend a first time investor like myself go with more of a turnkey small multi family or try a BRRRR on my first property? Am I crazy to try a BRRRR on my first purchase? I don't have a background in construction. The best way to learn something though is to do it. Thoughts? Advice?
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Originally posted by @Kevin Nisly:
Been searching for my first real estate purchase for a few months.
Would you recommend a first time investor like myself go with more of a turnkey small multi family or try a BRRRR on my first property? Am I crazy to try a BRRRR on my first purchase? I don't have a background in construction. The best way to learn something though is to do it. Thoughts? Advice?
I wouldn't do either. I would do a 2-4 unit for my 1st several deals. Margin for error is so much higher as you can use a 30 year residential loan to finance a 2-4 unit. You've got to use a commercial loan to financing anything 5+. The commercial loan terms are nowhere near as forgiving as those resi loan terms.