Single Family Vs. Multi-Family Real Estate Investing
In this episode, Scott Dillingham discusses the differences between single-family property investing and multi-family investing. He highlights the benefits of single-family investing, such as the ease of selling the property and the potential for appreciation. He also mentions the challenges of the first property and the importance of having a property manager. On the other hand, he explores the advantages of multi-family investing, including higher potential cash flow and potential cost savings on repairs and renovations. He also discusses the decision to upgrade from single-family to multi-family properties and the availability of CMHC financing for multi-family properties.
Takeaways
- (00:00) - Introduction
- (01:30) - Should You Get Into Investing?
- (10:15) - Advantages of Multi-Family Investing
- (16:56) - Upgrading to Multi-Family Properties
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Takeaways
- Single-family properties are a good starting point for new real estate investors due to their ease of selling and potential for appreciation.
- The first property is often the hardest to own, but it becomes easier as you acquire more properties and have multiple sources of income.
- Having a property manager can make your life easier and help you avoid common mistakes in real estate investing.
- Multi-family properties offer higher potential cash flow and potential cost savings on repairs and renovations.
- Upgrading from single-family to multi-family properties can be a natural progression for investors looking to expand their portfolio.
- CMHC financing is available for multi-family properties, with down payment requirements ranging from 5% to 20% and longer amortization periods.
If you're looking to access the best financing for Real Estate Investors in Canada & the U.S.A., then I suggest you Book A Free Strategy Call with a specialist on my team.