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Updated over 10 years ago on . Most recent reply

Buy-and-hold newbie question - Section 8
Greetings:
I wanted to know any considerations I should have prior to buying a multi-family.
I am interested in purchasing a multi-family house, for a few hundred thousand. The problem is I am afraid I am paying too much, and I am worried I may get stuck with a huge debt that will not off-set , if I sold at fair-market value down the road. How should I proceed?
FYI
My cousin has done this and will be holding my hand the entire time, however, he has held his properties for decades, while I would want to sell in 5 years.
Thanks!
Most Popular Reply

Don't do it. Buy a single-family 3/2.
I have said this before. This is like someone who says, "I would like to learn to fly. Let's start with that 747 on the runway over there. I would like to start with solo. Can someone please tell me how to open that funny little door?"