All Forum Posts by: Eric Brewer

Like Jim said, a MFU will give you a greater cash flow, but can be more of a headache than single family. I have also seen people rent out SFH to multiple people similar to a house hacking style.

What are your goals? Do you want to continue to scale? MFU would be the best investment for scaling quickly. And @they are usually less expensive to maintain than multiple SFHs.

@Taylor Ratliff thank you for the info! We are ultimately looking to scale quicker so I think I am still on the right track. Just will have to keep an eye out for them and keep plugging away at the numbers until one comes across that works. I appreciate it!

Make friends with realtors that cold call and see if you can have your search criteria added to their database. And facebook groups are going to be key. Off market and distressed property is what I would put in the search bar when looking to join groups.

@Taylor Ratliff ok good deal, I’ll do that and I appreciate the info!

0 Votes

Portland, Maine

Quote from @Wayne Marques:

@Eric Brewer we found the same when looking at investing in southern Maine. I'm guessing its more of an appreciation play, but that's not what we were looking for. We have a duplex further North that cash flows well, but it is in a very small market so there are more inherent risks and few larger unit properties. We are looking at other markets further North for our next property as well.

@Wayne Marques thanks for the insight! Yes, it must have something to do with that. I have spread my search out a bit more due to that too.

0 Votes

Portland, Maine

Quote from @Taylor Ratliff:

Like Jim said, a MFU will give you a greater cash flow, but can be more of a headache than single family. I have also seen people rent out SFH to multiple people similar to a house hacking style.

What are your goals? Do you want to continue to scale? MFU would be the best investment for scaling quickly. And @they are usually less expensive to maintain than multiple SFHs.

0 Votes

Portland, Maine

Thanks for the reply @Jim Pellerin! We ultimately would like to have better cash flow and scale more quickly once we get our feet wet. My only concern is that I don't want to over leverage the HELOC / ourselves. Multi-units are higher in price with rents that often don't line up with the 1% of purchase price atleast what I'm seeing in southern Maine. I have an underwriting process in place but just was curious on if I should change my approach.

0 Votes

Portland, Maine

Hi All! I'm Eric and I'm looking to start my journey in REI. I've done a lot of research and plan to untilize a HELOC on my own home for a down payment and finance the rest. We have some reserves as well in case things come up but that is our plan to start. I'm torn as I've done a ton of research and I'm wondering what the best first rental purchase would be (single family vs. multifamily/duplex )? Was initially thinking MF but now am considering SF. This wouldn't be a house hack with me living there, it would only be for renting it out. Just Looking to get your opinions to gauge which direction I should head. Thanks in advance!

0 Votes

Portland, Maine

All Forum Posts by: Eric Brewer

Eric Brewer has started 3 posts and replied 15 times.

Post: New to REI - SFH vs.MFH

Post: New to REI - SFH vs.MFH

Post: New to REI - SFH vs.MFH

Post: New to REI - SFH vs.MFH

Post: New to REI - SFH vs.MFH