Hi everyone, my name is Jarred and I am newer to the BP forums.
I am sorry if this concept has already been covered but I am having a hard time making a decision on my next investment and overall strategy. The general question is this:
Should I buy a duplex in a B or C class neighborhood now to start building my portfolio or should I continue to save and purchase a property with more units in a better neighborhood in the (hopefully near) future?
I currently own and live in one half of a duplex in an excellent neighborhood. My experience with this has been great, my tenants are awesome and have had minimal issues. I have a good "day job" that I do actually enjoy so I am in no rush to stop working there. However, I am very excited about investing in real estate and building a quality portfolio.
That being said, I can't decide if it's a better option to just get started with my portfolio by buying some of these cheaper properties (that cash flow) or wait and buy a property with more doors in a better neighborhood and presumably less headaches. Most of the cheaper properties are also further from where I live so self-managing is a bit more inconvenient in this case.
I am sure there are people on both sides of this question as I don't think there is a right or wrong answer, only differing strategies. So, I am really looking for some compelling cases from either side.
Thank you!
