New investor seeking advice.
Hello everyone,
I am looking for any advice on how to get into the investment side of real estate in the Atlanta area. I recently came back from deployment, so I am starting my real estate business back up. Assuming that I get deployed again in the future, having some investments will help me to earn passive income while I'm gone. What advice would you give to yourself if you were just starting out?
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@Carrington Allen when I came back from deployment I bought a 4 plex I was living in, then I started buying single family homes.
Hindsight, I should have stayed with multifamily buildings because you can scale faster, and lower your risk.
If your tenant in a single family doesn't pay you have to cover the mortgage.
In the 4 plex it took 3 of 4 tenants to cover the mortgage and expenses. Now some 15 years later because of rent increases it now takes 1 of 4 to cover the expenses and the property has appreciated at a faster rate than the single family homes.
My advice would be buy and hold multifamily.