FIRST TIME INVESTING ON A MULTIFAMILY

[Genesis Pacheco]

Hello BiggerPockets family. So I’m just trying to get as much knowledge as I can and I’ve been learning about your first investment should start with the highest Multifamily which would be a four plex (4units) and of course having to live in one unit for 1year. My question is here in Florida, those type of houses range probably from 400-500k so how can I get a property that will make me profit? Also what about the yearly taxes and insurance how is it possible to make profit when taxes can be as high as $4000 let’s just say. Wouldn’t all the rental income from the other units just be saved up for taxes n maintenance as well? If anyone can please explain what’s the best way to pay mortgage, annual taxes, insurance, maintenance and still make profit after all that? Thank you family