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Updated 5 months ago on . Most recent reply

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Imani Naomi
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Where to start - Multi-Family or Single Family Homes?

Imani Naomi
Posted

Hello Everyone, 

I am looking to start a rental portfolio and need some advice on where to begin. I have managed 180 unit buildings and currently oversee a student hosing building for 201 students. I want to start building my personal rental portfolio, but I need a little advice. Do you think it is better to start with single family units or multi-family units?

During my journey to obtaining my degree in real estate financing, I have found that single family homes cause a great financial burned if the tenant decides not to pay their rent. I have noticed much of that financial burned is mitgaged if you own a multi-family unit. Yes, I do understand their are ways mitgate risk through renting to tenants through housing programs, but my interest relies in buildings with more tenants. Considering that I have work in the property management field for the last few years, I am very familiar with what it takes to keep a multi-family property up and running. 

I would love to know how some of you started building your portfolio and what your thoughts are on starting with a portfolio with a higher number of units. I am really trying to unleash my inner Cody Davis energy lol. 

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Replied

Confirming what @Siraj Alsafar said, you can 1031 any real estate held for investment or business purpose, including SFRs. 

To comment on the bigger thread, commercial is generally better, but requires more capital. Residentially is a little more messy and has more risk but is easier to get into.

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