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Updated almost 9 years ago,
Feedback to grow a portfolio
I have owned a 4-plex for 3 years and it cash flows $2K+ a month (Los Angeles). I would like to reach my first goal of achieving $5K a month in passive income. I ask members advice/ideas/inputs/or even deals to help me with this quest. Would any of you recommend just buying SFH until I reach 10 and then start paying off one at a time or stick to multi unit properties (preferably triplex/quad) to grow my portfolio. I am currently looking at 3 markets, Atlanta, Indianapolis, and Kansas City. They seem to be affordable (under $300K) for quads and under $150K for SFH, which is very doable for me. Little more about me, I gross $150K a year and have saved $80K. Last thought is that I know there is a cash reserve requirement so to me it makes sense to get 4 multi unit properties and then I can do SFH but maybe I am missing something and that's not a good idea. Appreciate any and all inputs.