New member from Long Island, NY

[Toni Griffin]

Hi All,

I have been a member for a couple of weeks now and have been enjoying the wealth of information thus far.  I have yet to purchase my first multi family however quite close.  I have chosen to invest in the Northern Kentucky/Cincinnati, OH area, and not in New York, due to the affordability and abundance of opportunities.  With my immediate family living there, I would be a fool not too! :)  I currently narrowed down to approximately three properties where I am in the process of gathering all information to perform my analysis while also researching potential lending options.  I am trying to figure out whether I should go the traditional conventional loan route or not. My objective is to buy and hold and invest the profits in an effort to build my portfolio.  I am quite excited and overwhelmed at the same time! Nonetheless, I am ready! Let's do it!

[Xavier Navas]

What do you mean by, using the traditional conventional loan route or not. Do you mean you would buy the house cash?

If that's the case, I would suggest taking out a loan and that's because I like to mitigate risk and have cash in my pocket for emergencies. At the end of the day, your tenants would be paying your mortgage so its' not like you are paying any interest ;)

But if you have enough cash for the house plus an emergency fund (3-6 months of savings), then by all means buy it cash :)