All Forum Posts by: Seth Quantz

@Raju Balakrishnan

Thank you very much for your response. I keep going back and forth about which would be the best for me. I also don't want to get into analysis paralysis and wait years for the perfect multi. I guess I can keep my eyes open for both. I appreciate the responses.

@Rob Witt

I would love to get into a small apartment building one day. I have enough cash to get 1 multi family unit and then that may be it for a while as far as the multi family units go. I could however buy 3-4 single family homes and keep that up at a rate of possibly 1 home every 1-2 years.

I will be moving and plan on taking the equity I have in my current home and using that to purchase other properties at my new location so I can manage them on my own. I was looking into properties and would love to get into multifamily investing however I have found that a triplex or 4-plex is about 3-4 times the price of what single family homes are going for in that area. Is it better to invest in 3-4 single family homes while still a beginner to diversify my investing or would buying just one 4-plex be enough. I am currently still in the newbie phase and would like an opinion from more experienced people. Thank you.

I just found out I had multiple responses, sorry for my delay, I'm still new to this. So how would I only need 5% down on my next home? Is it through an FHA loan? Would I have to pay PMI if I don't put 20% down on my next one? If I did pull out around $100,000 with a HELOC to use towards my next home and another property I don't think I would be cash flow positive then. I was figuring only to be around $50 cash flow on this current home at this time. Thank you all again for your input. I am a kind of person that really chases after a goal when I set my mind to it so I am really hoping to figure out what makes the most sense for me and drive towards that.

@Ian I Leinwand

Thank you so much for responding! This is also my first post on bigger pockets so I feel that is an accomplishment as well! I think I may end up selling here and using the equity to aquire multiple properties. I am trying to follow my niche of multi-family properties for cash flow but there are also so many single family homes I may end up going more towards that route. Is there a downside to focusing primarily on cash flow in an area that has extremely low appreciation? The area in Michigan that I grew up has some great cash flow possible properties but home prices have stayed about the same since I left 10 years ago. Thanks again for all the information!

Also wanted to add that it is currently a VA loan.

I bought my first rental property in October! It is a duplex and thanks to biggerpockets.com I learned about cash flow and found the deal and closed on it. Now I am planning on saving up for my next property but plan on moving in a year or 2 and was wondering if it would be feasible or smart to use my current home as an investment property instead. I currently owe $270,000 on it and have roughly $200,000 in equity in Loveland, CO which has been a BOOMING market lately. I just refinanced it for only 2.25% and am paying about $1000 less than what I am guessing I could get for rent. My main question is when we move should I just sell it and use the equity in the house to buy 1-2 rental properties with it or should I turn my current house into the rental property and just try and save up for a down payment on my next house. There is a new PGA golf course that was recently built very close to my home so I assume the appreciation is going to keep going up. Would it be possible to use a HELOC on my current home to use as a down payment on the next one? Are there other ways to make this happen? Since I am still pretty new with all of this I would like to have a plan and goal in place to aim for but not sure if it's even possible. Thanks everyone!