Hello All,
I am hoping to buy my first house next year. I am hoping to buy a multi-family home for investment but I live in MA and multi-family homes are pretty high in price. Right now im just looking through zillow (I know it shouldnt be the do-all say-all but i'm just starting), and I feel like multi-families right now may not be the best investment because even though I can get more money, the amount of mortgage i'd have to pay would be more where I feel like i would just set myself to always lose money if rent + some of my money will go to mortgage. I am planning on living in one of the units so that's one less unit to get money from. Most single families I see, I'd have to pay about the same difference amount if I lived in a single family as oppose to a multi-family. So I am thinking maybe I should just buy a single family and then the following year get another single family to get the rent from that house.
Is this a good idea? Are Multi-family still better investments than single family even if I am paying the mortgage out of my pocket for the first few years? I want to set myself to have multiple houses to where I can retire young.
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source https://www.reddit.com/r/RealEstate/comments/j2xzsm/single_family_vs_multi_family/
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