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Originally Posted by SwampYankee
Thanks, Tom. I have no illusions of it being easy in any sense and would definitely be treating it as a business. Are your properties local to you? Urban or suburban? I'm hoping to pick up one or two here in my town, essentially suburbia. There are lots of professional types who work in Hartford but don't want the hassles of homeownership or condo life. Every now and then a multi-family pops up that needs updating or a facelift. That's what I'm looking for.
Headaches aside, has it been a worthwhile investment?
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I know people who do rather well with them. Its like anything some people love it, some hate it. I find in our area 3-4 unit properties tend to cashflow pretty well, and thats as big as you can go without a commercial loan.
I am looking to purchase one or two next year as well.
It seems the "trick" if you will, is to buy enough of them that you can afford to hire a property manager; before you get tired of managing them.