SINGLE FAMILY FOOLS? Should Your First House Be Multifamily? | Pros & Cons of Buying Multifamily

My Daughter is a First time Home buyer and she Bought a property the has a Main house and a Detached cottage style small home in her backyard. She's been here one year and now I pay here rent and live in the cottage. I'm so proud of her.

I wasn't keen on being a landlord as a first-time homeowner some years back. But, since I live in NJ, I discovered that being in owner occupied property does exempt you from a lot of the state and town landlord/tenant laws. For instance, I can be a lot more selective about the tenants in my units and not have to worry about discrimination allegations. Also, my town recently passed rent control, and it doesn't apply to me cause its owner occupied. Now, these exemptions only work if the property is 4 units or less.

Great video. I had a second property in Atlanta. I owned it for about 12 years. I was so glad when I sold it. Never ever rent to family. Being a landlord isn't just about collecting rent. I'm glad you let everyone know that. Love your videos.

Great way to be a homeowner and get rental units at the same time. 4plex live in 1 unit. Save what your payment for a unit would be for 2 years to buy another 4plex. If you start at 22 yrs, do this 2 (8 units) or 3 times (12 units) and hire a management company at 25-26yrs. Now you can buy your home and start investing in index funds or dividends for a stock and bond portfolio. At 30-35yrs re evaluate. Consider selling one 4 plex and paying off the others to be debt free and get 100% income. This might allow you to be financially free at 30-40yrs old.

You are such a Godsend!! This was so easy to understand!!

I'm looking to buy a multifamily to house hack.. First time home buyer

I just found your channel. You make the information very easy to understand! I sure wish I did this in my 20s or 30s. SMH.... THANK YOU!! GREAT CHANNEL!!

So proud of you! I've watched you grow, I'm one of your biggest fans. You keep me fresh on a lot of topics as a realtor.🤗

Thanks for sharing. Always good information. Bless you

Thank you for all you share. Merry Christmas blessings to you & your family☃️💕🎄❄

Great info as always.

Thank you for your information. Happy holiday to you and your family ❤️

Happy Holiday , Shaheedah Thanks for the information.

Thank You so very much!

This video came rite on time…. Love you!

Thank you for explaining appreciate it 😊

Excellent video. Thanks

Great video, thank you .

Thank you I was just talking to a somebody about buying land and putting multi family homes on it.

Thank you thank you thank you! For all you do!!! Thank you ❤