New and thinking Muli family is the way to go

[Darcy Niedermaier]

Good Morning Bigger pockets followers. I am a newbie (sort of). I previously owned a duplex, but had a bad experience with one tenant that my wife persisted we get out of the land lording business so we sold. I just closed on a condo 3 hours from where I live and have an instant renter (my son) who is starting out just after finishing university. Negative cashflow there to help him (60$) per month. I have been researching and doing lots of education on real-estate investing. I'm in Alberta Canada, but just wanting some opinions on multi- family investing. My take on them is that, I would be able to get 4 doors, with all expenses in one spot (Gas, power, taxes etc..) I'm not scared of land lording and the reason I failed the first time is improper screening. I am about 10 years away from retirement with my company and want to get back into real estate. Am I making the right decision on my thought process and jumping into Multi family. There are 4-5 fourplexes available in our city as reasonable prices and just doing my homework on seeing what the market rents will be and other due diligence on whether or not they will be viable options for me. Thoughts?

[Jeffrey Donis]

Originally posted by @Darcy Niedermaier:

Good Morning Bigger pockets followers. I am a newbie (sort of). I previously owned a duplex, but had a bad experience with one tenant that my wife persisted we get out of the land lording business so we sold. I just closed on a condo 3 hours from where I live and have an instant renter (my son) who is starting out just after finishing university. Negative cashflow there to help him (60$) per month. I have been researching and doing lots of education on real-estate investing. I'm in Alberta Canada, but just wanting some opinions on multi- family investing. My take on them is that, I would be able to get 4 doors, with all expenses in one spot (Gas, power, taxes etc..) I'm not scared of land lording and the reason I failed the first time is improper screening. I am about 10 years away from retirement with my company and want to get back into real estate. Am I making the right decision on my thought process and jumping into Multi family. There are 4-5 fourplexes available in our city as reasonable prices and just doing my homework on seeing what the market rents will be and other due diligence on whether or not they will be viable options for me. Thoughts?

I think it comes down to what your goals are and what can get you there as quick as possible. I love Multifamily because in my opinion it will help me get to my goals quicker than SFR. The economies of scale as well as the ability to leverage debt when it comes to Multifamily are two of the many reasons why we focus on larger Multifamily assets. I think coming up with a game-plan on where you want to be in say 2-5-10 years and then what will help you get there is a way I would look at it. Multifamily makes sense for some and not so much for others. Hope that helps!