Buying first property

[Steven Coppola]

Hey BP! I'm looking to buy my first property! Would you guys recommend a single family home to rent out or jump right into duplexes, muti families, etc...

[John Warren]

@Steven Coppola this will depend mostly on your goals and also the building stock of the surrounding area. People often forget to take into account the types of buildings in areas. For instance, in my local market in the Chicago suburbs there are tons of purpose built, brick three and four unit properties. They are solid properties that make a lot of functional sense to live in due to build quality and location. In some other markets, you may not find many high quality small multi family properties. 

What are your long term goals? Are you looking to build a portfolio of single family homes? Build a portfolio small multi family properties? Buy apartments?