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Single-family Homes vs. Small Multi-family Investing
Hey BP!
I am still a rookie in real estate investing and am looking for some insight. For context, I am located in Minneapolis, MN and have been househacking a duplex for a year. My question is: should I continue investing in small (2-4 units) multi-family or single-family homes?
More Background:
My current goal is to be a 'small but mighty' landlord/investor (check out Coach Chad Carson if you want to learn more) in the Minnesota metro/suburb area. I am also dedicated to the 'buy and hold' strategy. I imagine the easy answer to this question could be to diversify with both investment types, however, I am looking for the pros/cons of each from y'all's point of view. I have some thoughts already. For instance, small multi-family has similar financing and offers faster scalability. On the other hand, single-family (typically) provides a tenant pool that can be more manageable and longer leases, and I am assuming maintenance and capex could be on a smaller scale, but I could be wrong on that.
Appreciate everyone's time!
- Hunter