Starting into small multi family rentals

[David Drinnon]

Hello everyone, I’m wanting to start into the adventure of small multi family rental investing. I want to break the mold of my family and start creating the generational wealth that my family can use in the future. I know I need to start now and I’m wondering if anyone had any guidance on where to go from the beginning on to that first buy. I’ve already contacted a Mortage lender to start talking and already have some networking with some real estate agents as I’m a local electrician that works with agents to help with closing time. I’m wondering what some people thoughts are in this area? Thank you all for the input and maybe this grow into something bigger. I’m located in the Pittsburgh PA area.

[Mark Sinclair]

I have to echo the strategy that @Abel Curiel mentioned with house-hacking. I'm new to REI as well and the notion of houshacking/moving with a family (which was my situation) never seemed to be an option because of the huge under taking it would be. The mindset you have is great! And my wife and I are trying to keep that same mindset for our family as we are taking the leap in our area (NJ) with househacking in our first small multifamily deal. We are selling our SF home and taking the jump into living for significantly less and then being able to cash flow and build on the momentum later down the road. Especially if it is for your family it makes the conversations with kids and wife a whole lot easier about what the benefits and challenges will be. House hacking with kids and family is tough, but possible and a great way to get that start you need.