First time buyer benefits of buying 2-4 unit property rather than single family

Quick video diving into how buying a 2-4 unit property could be the best move when first getting into real estate rather than a single family home.
When you buy an owner occupied residence for yourself you really have two options when making your next move:
1. Keep it as a rental when they move to buy their next home
2. Sell it in order to put more down payment into the next home
Here are some of the benefits to buying a 2-4 unit property as your first home:
HOUSE HACK - You can house hack it which is when you buy the whole complex, live in one unit, and rent out the others to offset your expenses
OPERATOR SPECIFIC - These properties are valued on how much income they produce and how turnkey they are. As a good landlord operator you can easily increase the value to investors if you buy a unit that ius under rented or needs work
BUY AND HOLD - If you decided to continue being a landlord you can keep the property and cashflow it after you move out by renting the unit that you live in and using the extra income to qualify for more house on our next purchase
PRIMARY HOME FINANCING - Loans offered for owner occupied 2-4 unit properties are the same as owner occupied single unit properties so you can get preferred rates.
Conclusion:
Building wealth through real estate can come in many different shapes and formats. 2-4 unit properties can come with less competition, more deferred maintenance, or they may be under rented but these are all opportunities for you to strike a better deal per unit than you can get elsewhere and begin building to offset your living expenses or in the best scenarios cashflow positive on your purchase.
Depending on the market you are in cash flow and appreciation rates will vary make sure to that when you are planning your next purchase our build in your exit plan.
Ready for one of our agents to tell your story and communicate your value as a buyer? Start your next move today with a personalized consultation. Call or text below to get started:
Peter “Pistol Pete” Eubank
Eubank Property Group
ROOM Real Estate
831-471-7330
[e-mail]
Dre: 02015065
Instagram: @pistolpeteeubank
TH-cam: Pistol Pete Eubank