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Updated over 5 years ago,
Deciding on purchasing a couple of duplexes or a small multiunit.
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