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Updated over 8 years ago,
Am I ready for multi-family's,apartments?
So I'm kinda frozen here...
This is what I'm thinking and what I think will take me to my retirement
We currently have two duplexes,one of them we completely remodeled planning a flip(so probably over did it)the other one we bought with tenants and recently got one out and are doing a small clean up adding closets paint etc..Since we used all cash I was thinking about the BRRRR method and keep both for rental income.Lots of equity in both.
BUT I don't really want to do the repeat process,but we can go that way
And still bring in 1600. Positive cash flow after expenses.
And probably get 2 more duplexes or so.
Wouldn't it make more sense for us to sell both getting back all our capital and buy 2 multi's 10 units or more in the 500,000 range putting down payments of 30 to 40%.
There by getting it done.Getting the cash flow to where we can semi- retire.A management co etc.
Is this not what we're working towards.
OR IS THERE SOMEONE WHO SEES ANOTHER SCENARIO
Can you talk me out of this......What headaches are involved in multi's
I can also wait to find them where I can add value rehab add AC get the rents up etc.