Quote:
Originally Posted by Barefootsies
For those who invest in real estate, quick couple of questions.
1. Invest in single family homes or multi unit?
2. Advantages or Disadvantages to #1?
3. If Multi.... Duplex/Quad or a Bigger Complex?
4. Car Washes/Laundry Mats/Storage Facilities?
I am looking for those who either currently have, or have had, past experience. Thanks.
Fire away ladies.
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single family, duplex, or quad, doesnt matter ... i only look at single units in multi unit buildings, but make sure associations are in order and dues are being paid..
i prefer single family, but downtown where the rental market is hot, there are not many single family home options..
whatever you buy, make sure you can recover your purchase price in 5 years of steady rents otherwise walk away.
for every deal i have found, i have put offers in on 20-30 and either been out bid or flat out rejected by the bank..
if you lose a deal, so be it... set a strategy and follow it..
there are so many deals out there right now if you are patient..
find a realtor that has been in your area for a very long time and knows people at banks..
that helps a ton....
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