New to multi family investing and I need advice 27 with 60k

[Matthew Botelho]

-All

I'm 27 years old with $60k saved up and I'm looking to invest in multi family homes in the New England area. I'm on the fence as to should I start investing now on a 4 family home (260k) and build up experience or do I save up for another 2 years ($110k per year x 2 years = $280k) and invest in a bigger multi family complex? If I start now I can buy a 4 family home every other year until 35 which leaves me with 16 units, or I can wait for 2 years save up and buy a bigger multi family complex. My only concern is that by the time I'm ready to buy a bigger complex ($280k down payment) the bank wont issue me a commercial loan because I lack in experience.

Any advice is greatly appreciated!!

[Chris Seveney]

Matthew Botelho
What is your experience with owning and managing properties? I will use the analogy of skiing - if you have never been skiing it's not recommended to start on the black diamonds. Running 4 units or less vs a commercial property 5+ units is very different and I always recommend people cut their teeth on smaller properties first as the " you don't know what you don't know" can be a very costly mistake