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Updated over 5 years ago,

User Stats

12
Posts
7
Votes
Tom I.
  • Detroit, MI
7
Votes |
12
Posts

Deciding on purchasing a couple of duplexes or a small multiunit.

Tom I.
  • Detroit, MI
Posted
Hello BiggerPockets Friends, My name is Tom and I’ve followed these forums and BiggerPockets podcasts for a couple of years now, it’s almost time for me to make a big decision. I was hoping I could get some advice from some of the wise investors here. So essentially I am going to sell my first property. Once all is said and done, I will have roughly 200K in savings. I have great credit, but only 6 months of landlord experience. This has lead me to a dilemma. Should I purchase a couple of duplexes and put a hefty down payment on each, which I can surely qualify for? Or should I try and purchase a 6-10 unit? For years buying a small multi-unit was and is my goal. But I’m not sure if my limited experience would binder my chances of obtaining a commercial loan. Thanks for any help, and Im excited to develop some constructive friendships here! Tom

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