All Forum Posts by: Oliver Powell

 @Oliver Powell

Hi Oliver,

Welcome to Bigger Pockets!

While multi-family is a perfectly good place to start, I would tell you that it is often more competitive than single family homes… maybe just due to there being less of them in general, and being more desirable by investors.  
When we first started we began there as well because we liked the idea that one side  could pay for the mortgage if there was a vacancy.  But we soon came to realize that we could re-rent a unit in a matter of days as long as we had proper notice from the tenant.  So if we were given 30 days notice we could turn on our marketing, screen applicants and almost always dovetail  the new tenant’s move-in to within a few days of the old tenant exiting.  By being open to single family homes as well it really increases your choices, and for us, reduced the cost per door of acquiring our properties.  In short, the vacancy concern was far less of a concern than we thought. 

Just a thought for you as you begin your journey.

Randy