Related Posts
More Posts
Oct. 15th is almost here. Hang in there!
Thoughts on Jumia stock?
Additional Posts in Personal Investment Chatter
SCARED MONEY DONT MAKE MONEY. BUY NOK 🚀🚀🚀🚀🚀
Looks like stocks are back on sale
Does anyone put money into CDs anymore?
GME and AMC are not doing well today 😂
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.





I have 16 units in a different state. If you can find a multi family that the numbers work out on... do that. It’s a no brainer.
The benefit of doing a Multi-family (4 or less units) while living in one is that it gives you access to greater loan products. For example, FHA won't give you a loan unless it's for your primary residence. So if you weren't going to live there then you don't can't get that loan.
The other benefit (other than tax benefits), is that you can manage the building on site rather than from a distance.
Research house hacking. That's the form of investment you are looking at doing.
Multi family. Just make sure to find a property where the numbers work with your goals. It's not easy in Chicago (Cook county)
Absolutely multi-family if you're up for it. The biggest challenges are taking on a higher down payment and mortgage and finding the balance between a nice place you want to live vs the most profitable place for renting. But ultimately, having at least one other unit at 80%+ occupancy helps you pay of your mortgage and build equity really fast. You do this with your first house and you do this while you're younger and it allows you to get to a financial position to buy your next house pretty quickly. And that can either be your single family home or another multi.
If you get a condo, a roommate could also help in the same ways.
Or buy a condo to live in. Personally, I like the idea of gaining a side income from rent, but I may not have the time to properly manage/maintain it. With the condo, I would have an increasing asset as I pay off the mortgage. Any advice? Currently living with my girlfriend in a Chicago apartment that is becoming a bit too small for the both of us.
And if you don't have time to manage, there are companies that will manage units for you. They cater to the smaller unit/building rather than full apartment complexes. I've checked one out and their prices were very reasonable.
Multi family . It’s easier to manage if you are living in the residence as well .
Cap rates are super low right now... multi family would be best tho
I’ve been leaning towards the Multi-family option on a foreclosure with an FHA loan. I’m not entirely sure how the renovation costs are added to the loan value. It seems like that would be my best financial decision.
Any advice on navigating the relationship side of rental investments when my girlfriend is afraid of me taking on the debt?