Single Family vs. Multi Family - Which Should You Invest In?

[@tinachxx110]

Would love you to do a video about how much cashflow you have per month from the properties and how you manage them? I own and manage 60 units with my husband. But it’s a full time job. I would love a detail video exactly how you manage your properties because yours seem more passive than mine.

[@torsten6777]

I have been doing this for 20+ years. Looking back, single family homes were not doing well, I started selling them now. Duplexes are ok, triplexes are better, but 4-plexes are by far the best investment for me. I also got the largest amount of cash-out refis on the 4-plexes.

[@rajeshkotha1511]

Are 4-plex better than commercial units with 5+ units?

[@nancyguzman7887]

Excellent chat. When I see you and Erion, I make it a priority to watch. We have 2 duplexes and a SFH. Resting right now but if ever there was a good deal to buy a small multiplex (no more than a 4-plex) we would!

[@AKZboy2]

I’m 19; just purchased a 1bed, 1bath fourplex to house-hack. Fully rented and cash-flowing. It needs a lot of work and the purchase price reflected that. I am a contractor by trade and I’m willing for the headache so I guess that’s my “edge” ;)

[@torsten6777]

Nice, a 19 year old contractor!!! Most young folks don’t want to do “real work” anymore these days. You will be doing very well!

[@jldsystemsltd]

We have a quadplex of 2 bedroom, 1 bath townhomes. Tenants 25 years, 10 years, 5 years and 2 years

[@jldsystemsltd]

Two tenants were there when we bought the building in 2017. The other inherited tenants ended up being evicted. Definitely our best property. It was intentional build 4-unit, nicer suburban neighborhood.

[@Taxpayeroftherepublic]

Coach - what’s a fair property manager fee? What exactly do you have your property managers handle and what do you handle? Appreciate your thoughts.

[@TropicTrdr]

Great video. I'm 68, still have my VA loan eligibility and now I'm thinking that I ought to put it to good use!

[@CoachChadCarson]

I love that idea! Good luck. And thank you for your service.

[@rickertpropertygroup]

I'm a Vet too, and an investor, broker as well. Thanks for your service. VA loans are wonderful and if service connected, additional doors open. Good luck from this 64 year old! Mark

[@TropicTrdr]

@@CoachChadCarson What is your opinion on on the Build to Rent sector, not in the context of institutional investors or builders to hold but to individuals like me who would buy and hack? I don't see duplexes marketed. Something for a future discussion?

[@CoachChadCarson]

@@TropicTrdr i love the idea! The key is finding reliable builders who are selling to investors. You can sometimes find this through turnkey providers, investor friendly brokers, or networks of investors like Kathy Fetke's Real Wealth Network. Many builders today are also offering interest rate buy downs which can give you a 5% interest loan instead of 8% . I have an episode coming soon with a lady who bought a duplex like this in Texas

[@TropicTrdr]

@@CoachChadCarson This crossed my mind after encountering small multi family properties where the property would not pass a VA appraisal nor would the seller bring it in compliance or accept the terms of the loan. Have a great weekend.

[@rickertpropertygroup]

Great video Chad!! Thanks for all you do. Mark.

[@CoachChadCarson]

Thanks for watching!

[@circuitcontroloscar]

Thank you Coach Carson This is a great analysis.

[@DeConstructingDreamz]

Do the house hack every year to get the best rates as a primary. That could potentially get up to 40 units minus the one you live in. Keeping all financing conventional.

[@CoachChadCarson]

I like that strategy!

[@TheZeedler]

I own 1 quad. Putting in an offer TODAY for my second fourplex. Like the first, this one will also be purchased with a live-in loan.

[@priceandpride]

Love. These casual conversations!

[@CoachChadCarson]

Thanks for watching!

[@seanbrancati5792]

I've had a property for the last 10 years (I'm 29 now). I moved from Toronto to Montreal where the prices of condos are nearly HALF. I'm thinking of selling my condo, taking that 300k in equity, and using it to buy a condo in a good area within Montreal (with good equity growth). I think I could put 80-90% down on a brand new condo here. Is this wise? My thought is, I'm essentially moving the equity from 1 condo to another, so not losing or gaining, BUT, I could immediately start cashflowing more than 1500$ a month, while also continuing to build equity. Any comments are very welcomed!

[@jeffmack4561]

Nice video. Thanks.

[@CoachChadCarson]

Thank you too!

[@MomoGetsMoney]

Great guest. Good stuff

[@Kayelle321]

I started with two duplexes. My only regret - I didn’t start with a fourplex!

[@rell9161]

same bought a duplex but inventory was low in my area

[@griffinhahn]

My question is 30 days out from closing a house that me and my buddy put 5 percent down on. We will be both living there and will be our primary residence. Can we legally rent out the other 2 rooms of the 3 bed 2 bath house to our friends or does it have to be 20 percent down to be able to rent out which we will start doing on our next property

[@CoachChadCarson]

I don't know of any 5% loans that prohibit you from renting extra bedrooms. Should be fine. But you can also ask your lender to be sure

[@juliebee61]

you can rent to anyone you want!

[@griffinhahn]

@@juliebee61thank you I figured

[@griffinhahn]

@@CoachChadCarsonthank you!

[@MonteMitchell]

My first 10 properties were single family homes. If I could turn back time, my first 10 would be all fourplex units. Today I own 3 multi family & buying 5 more to hit my freedom number.

[@CoachChadCarson]

Interesting. Thanks for sharing. Did you sell your single family houses to buy the 3 multifamily?

[@MonteMitchell]

@@CoachChadCarson No, I still have all my SFH’s. In addition, I have 2 duplexes & 1 fourplex. I want 3 more fourplex units.

[@noahcash]

What markets ?

[@AndrewAllenInspectorInvestor]

🎉🎉🎉🎉

[@jeffmack4561]

None because it’s a lie.

[@juliebee61]

theres a new build 16 unit (4 quads) for sale for 4M. idk how to get my hands on it!

[@torsten6777]

$250k/unit, how much could they rent for?

[@markslayton5042]

Here is potentially a newer angle in the debate. Our duplex insurance with Liberty Mutual went from $1.4K annually in 2022, to $3k in 2023, and then $6k in 2024. The insurance agent said that the increased risk of multifamily rentals is driving the new rates. She went on to say that they wouldn’t even underwrite the duplex if we approached them today.

[@torsten6777]

None of my multi family insurances went up over the last few years, so I guess it’s a location issue. Maybe they increased a few percent, but nothing that I noticed

[@sfresh92]

What neighborhood?

[@markslayton5042]

@@sfresh92 Bremerton, WA, near the Puget Sound Naval Shipyard.

[@bbq8282]

The first rental I jumped in was a 30 units apartment building back in 2015.😂

[@CoachChadCarson]

Bold! Congrats!

[@bradmarchant7822]

Just dipping your toe, eh???

[@bbq8282]

Pretty much and never look back. Accumulating more than 100+ doors now and accidentally following the food step of Michael Z (one rental at a time)

[@Tytrades]

Do you regret it? I’ll probably do something similar soon

[@bbq8282]

@Tytrades no I do not regret it at all! The trick I did was to find the deal with existing management already running that building. It is not like any single family property manager can run a small apartment. First 6 months I owned the building, there was a small fire in one of the unit due to tenant smoking. My property manager handle the insurance claim and restoration. I now just turn 10 years in the game and owned a few more apartments and >100 residential door totals and venture into some commercial buildings with individual offices. The both Combined ~160doors total. When Mike say the first 5 years is rough in the single and duplex, apartment is really rough and you do not want to run this by yourself.

[@rell9161]

Next investment will be a 4plex ! I aspire to have 5 4plexs

[@rubayyatkhan]

Why not both 😊

[@CoachChadCarson]

That's what I did!

[@torsten6777]

I did d both but the singles were not really worth my time and money.

[@rajeshkotha1511]

Erion is very good. I need more brain picking and insights from him

[@fredscott7534]

I enjoy the content but if you are going to have on somebody to add to your normal discussions please allow them to speak

[@FinancialFIRE-Fighter]

There is no one way to do it. They all have their pros and cons

[@gary.haynes]

If expenses cost 55% of your rent, you need to get out of rentals. That is nuts. No one estimates expenses that high. Your guest must have missspoken.

[@CoachChadCarson]

@@gary.haynes I've got a number of rentals with 55% operating expenses. Not that uncommon when Capex and all expenses are included on older properties