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Updated almost 3 years ago,

User Stats

19
Posts
16
Votes
Hannah Espejo
  • Real Estate Broker
  • Colorado Springs
16
Votes |
19
Posts

Buying my first home as a 4 unit multi family

Hannah Espejo
  • Real Estate Broker
  • Colorado Springs
Posted

Any advice I can get here would be appreciated. I only make 50k a year. I don’t have much money saved as I only have $5,000 for everything. However I know the interest rate would be higher because of that and my debt to income is 50%. I want to buy my first multi family 4 unit and live in one. Is this possible given the situation that I am in? I don’t have any friends or family to invest with me. Would it be worth it for me at a 7% interest rate if I keep those units rented out? I want to take action and will do whatever it takes as I know Colorado Springs is a hot market. I want to get into the investment world!

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