I am new - I need help

[Kyle Henk]

Hello all! Here are my questions (don't judge I am new to this LOL)

1. I am looking for a place under $150,000. What type of property would you recommend I start with?

2. Would you recommend going "in" on a place with more than one other person?

3. What are some tips you could give me, a newbie interested and considering this field?

Thank you so much in advance, happy investing!

[Michael Lewis Lee]

Hello Kyle! That is a difficult thing to give you s straight answer.  It does not matter how many Partners you should have as long as you have most if not all of the control.  It would be the minimum Partners I need ideally.  There's nothing wrong with the debt as long as you have a positive cash flow after all expense are paid including your expected debt payment.  It also depends on is where the subject property be? Your title does not say where you're at and about where the subject property is? What are the prices and rents in the subject area.  The more rental units you buy, the better you result will be on average.

You can start out with small MF complexes that consist of 2, 4, 6 , or 6 units and then work up your way up from there. Putting down 30% will typically give you better results of the equity. Buying MF products will give you the passive income you want. I think owning a SFH with 1 unit can be more risky and having one vacancy there can really hurt.

Good luck to you!