small 2-4 unit multi-family and you could rent out the other units to generate income. If you buy right and you're in a good rental market, you could have the rent from your other tenants
fantastic return and cash flowed more than our duplex. It was definitely a mindset shift. Lauren: Definitely, because when we first started, we had a unit goal and then we realized that's the wrong goal, because you could be buying properties for the sake of having that unit count, but not necessarily cash flowing well. Now we have a cash flow goal instead. Alexandra (AAOA): When it comes to looking for a property what metrics do you look at? Lauren: It depends on what area we're looking into. Like Kyle said, we invest in nicer areas for our house hacks, and we also invested in another more urban area.
Kyle: We plan on having a small, but mighty portfolio. We do not want to own hundreds of units. We'd rather have a strong portfolio of 30-50 units that gives us the returns that we need, but is still manageable, whether we're the property managers or not. We might invest in short-term rentals too. Alexandra (AAOA): Do you prefer investing in multifamily or single- family? Kyle: When we first started our strategy was small residential multifamily of four units or less. That was our criteria until Lauren just so happened to stumble upon a single-family home close to where we were bought our first duplex. That single-family gave us a
pay for your mortgage, taxes, and insurance.
You end up living rent free or at least for significantly cheaper. For example, the house that we just bought is a five-bedroom home in a very nice area, and we're probably going to pay around $500 per month to live there. And in New Jersey, that's pretty good. Alexandra (AAOA): In terms of location, do you see yourselves ever investing remotely? Lauren: I think for the next year we'll stay in New Jersey, but we definitely see the value in diversifying our
It's a mix between cashflow
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