New learner aspiring for financial freedom

[Deric Allen]

Hello all,

I'm curious on view points for my new adventure. So background story is i rented an apartment for 3yrs. Never missed a payment and was never late. No issues caused by my own fault. Yet once covid restrictions were lifted i was evicted. I promised myself and my family that won't happen again. I've decided I will be buying multifamily buildings and become a landlord. I want to be fair to tenants and not put people thru the issues ive had. But there are alot of variables to determine things.

I'm a first time home buyer. So i can do the 3.5% down and then repeat that same process with my wife. So we'd both have 1 to start in the first 2ish years. which will help me get my foot in the door and Massachusetts allows multifamily for first-time buyers. Goal is to have 5-6 2 or 3 family units within my first 10 yrs. Is that realistic?  And what hazards should I watch for. Also anyone with knowledge of this that can give me advice. Money isn't abundant and I'm no where near financially secure. But I'm better off than most people in my situation.

As i said I'm completely new to it. But i will succeed at this. Anyone with knowledge, advice, tips is always welcome

[Tsipora Smith]

3.5% down is an owner occupant loan. You and your wife would not be able to both have one unless you're planning on living separately. Mortgage lenders randomly send people out to these properties to confirm they are in fact at least partially inhabited by the owners. A 4 plex would be your best bet to use this strategy.