New member looking to learn the ropes of REI.

[Suzanne Emily Nguyen]

Hi everyone,

Just recently joined BP and excited to learn from everyone here! 

My name is Suzanne Nguyen. I am looking to get into long term REI. I stumbled upon real estate a little over a year now. I am also an active agent working full time. Trying to learn as much as possible from working with buyers/sellers/investors.

For my first investment, I am looking to focus mainly on condos and in hopes of trickling into multi-families. What are your thoughts? 

[Abel Curiel]

Hey Suzanne,

Welcome to BP!

I think @Corby Goade said it best with regards to the challenges with purchasing a condo unit as an investment.

Most condos in NY require 20% down... Not too sure about MA but just to give you an example...you'd have to put 80K down for a 400K condo... That same 80K could be used as a 10% down payment on a 800K triplex.

You could live on the unit and rent out the other 2 units thus lowering your living costs. You'd then be able to refinance and move onto to the next.

Obviously, you have several other options but I think most would agree that Multi-family is the way to go.

Best of luck to you!

Abel