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Updated almost 5 years ago,
Is it bad to focus on only getting a 3-4 unit for your first?
I have been pre-approved to get a home and I have seen a few places and also put an offer on 1 but it didn't go as planned. I have mainly been focusing on duplexs but my area doesn't have them on the market as often. So I have branched out into the bigger cities near me and found some triplexs and quadplexs! "Personally I don't want to invest in another state yet mainly because I'm learning and also have a life long goal on rebuilding my small town". After running the numbers and seeing the amount of cash flow I would make from a tri or quad it has made me not even want to look at duplexs anymore... Is it bad to only focus on a 4 unit or maybe a 3? I want to house hack for my first ever property and SFH doesn't even seem like a good idea for me and duplexs are covering my mortgage and maybe a small profit but triplexs and quads are seriously almost bringing close to what I make at my W2 job. I'm afraid I'm going to be waiting too long until I get myself a property to make some money from but I also want to have a good cash flow from my first property as well. This has kinda been stressing me out and I just feel asking here would help me figure out what would be best!
Do you guys think it's okay to wait for a tri or quadplex in my area? Or would it be smarter to try and get into something sooner rather than later?