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.

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.🤗

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

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

Great info as always.

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

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

Very informative. The timing is perfect as this is a family discussion my husband and I are having with our adult children. Thank you Shaheedah. Merry Christmas to you and your family 🎄

Thanks for sharing. Always good information. Bless you

Happy Holiday , Shaheedah Thanks for the information.

Thank you Shaheedah. Happy Holidays. Could you please do a video on converting a single family into a multifamily? My cousin owns a house, and the downstairs is like a regular one-bedroom apartment, with a kitchen and bathroom. It's not a basement apartment. For some crazy reason, they considered it a single family. It's in a single-family zone. I believe he wants to rent his downstairs, but he has to seek the approval of the township first.

Thank you for explaining appreciate it 😊

Thank you soo much for all this inf. This reassures me so much. ❤️

This video came rite on time…. Love you!

Great video, thank you .

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

Thank You so very much!

Been looking all year. In the chicago area all the deals are in bad areas. The good areas are over priced. So it makes no sense to just break even. Suburbs taxes are 10 to 15k which eats at your profit. I've started looking at single family homes. But still keeping my options open. Since house prices are dropping faster I see more profit on the single family end. If I were to buy then after a year rent it. But still trying to be patient for a multi family.

Hi Mrs Hill! Just want to say thank you for taking the time out to do these well informative videos for us. I blessed God for you. I’m a new subbi btw.

Excellent video. Thanks

Great video.blessing 🙏🙏🙏

Thank you sister 🙏🙏,I don’t forget u for ever.

Great video! New sub !

❤Not a fool at all. That's why I watched your video. Great tips. Especially for first-timers. Soon, we will be investing. We will visit your channel more ofte. By the way, just subscribed.❤

Very great video

Thank you.

Thank you for this video, I have seen all the ads pushing the multi-family home strategy

Very helpful

Hi, I do have a question. I’ve never purchased a home before but I’m going to purchase one 2023🤗 I was told that they have programs also that can help you with your down payment. Is that true? If so, can you combine that with other programs such as FHA and Conventional Loans? Please let me know. Thank you for taking the time to share you videos with us

In Florida Some Newer Communities have upstairs detached garage studios. What is your opinion on this type of property?

Thank you 🙏🏿

Do you have any suggestions in my situation? I am a 23 year old female living in Nashville, TN! I’m an immigrant helping my mom buy a house (first time home buyer). My credit score is about 693 according to Equifax. Im trying to raise it! Im not forsure where to start on this whole process and what’s available to me, but hopefully I can learn from your videos!! We found a company that has its own communities and I think the down payment was 5k and if you close before February of 2023 you can apply and see if you can get 5.75% interest (Im not forsure if this is bad or good), I guess my question would be as a first time home buyer and someone that doesn’t know much about buying a house what would you recommend I start researching or making sure I know before I buy a house! Thanks for your response!

Can you do a video on the new program that's rolling out in 2023 the American Dream for all Program?

Once someone lives in their home for 1 to 2 years, could they use the property to house people who travel for work while still living there?

Great informative video! Quick question, I understand that If I purchase a fha multi- family duplex, I would have to live there for a year(permanent address). I'm a traveling technician on the road for 13 weeks at a time, staying in Arbnd for my duration. Could I still stay in my traveling profession and it not be considered mortgage fraud if I don't rent out my main living space but rent out the other units?

I am looking for an agent in GA to help me with this process of buying a home. Are you available? I love how you educate us property virgins. Thank you in advance

What if your not keen to dealing with tenets but looking to buy property as a first timer for investment…what sort of options can we look into?

Hi Shaheedah, this video is really helpful! I have a question, there is a restrictive covenant saying all lots shall be used solely for single family residential purpose only, does single family residential include single family rental? There is NO HOA in the subdivision. TIA！

Hi New subscriber here been going back watching a few of your older videos that apply to my home buying questions. Few questions I am currently under contract but I work two jobs will this be an issue? Reason I ask is while my one job is permanent been there about 5 months and my other job is a contract job that will be ending in the next two months I work both but I qualify for the loan with my one permanent job income. My lender mentioned he wouldn’t use that for the loan as in my other contract job so my question is when underwriting sees that will they want to know more or how long I plan to work it or will they just look at the one income in which I qualify for the loan anyway ? Second question so there was some miscommunication in the beginning of my process where I paid cash basically for the binder payment and my lender later let me know that they can’t use that because they can’t trace it so I went and got a cashiers check for the payment and got refunded in a check for the orginal binder payment. My question is should I depoist that now or wait until the process is over? Although the check is traceable because it’s from the title company I just don’t want them asking well why did you pay them just to have another check like why are you getting a check back. Can you let me know your thoughts I would appreciate it

Does the low down payment requirement apply if you want to build a duplex on property / land you own?

Shahneedah, If a row house is on the market priced at 189.900 and the property rate is 6%, could I convenience the seller to buy down that 6% rate? And if so, with the home selling for $189.900, could my mortgage be $1,300?

I bought a condo (townhome) first time homeowner

Is it okay to be a first time home buyer as a Rent to own option? I know people who think it's best. What do you think?

Your video came just in time. 💖✨️

Hi Mrs Hill!, thanks for all your knowledge in these videos. My question is, If you purchase a single family house, how long do you of to live in it before you can rent it?.

I am one of the fools that bought a single-family home. Do you have any suggestions on how I go about buying a multi-family home with an FHA loan for my second home

What states would you recommend for multi family home

Hey I’m 18 years old and I’m looking to buying a home. I start college in the fall and my goal is to own a home my sophomore year in college towards the end of my college career. I know I’m young but I have so many questions. Do you have any advice for me or dos and donts?

What if you're living with someone who owns a house, but you want to get a multifamily unit. Could you just have your mail sent there and not rent out "your" unit for a year?

I plan to buy a single family home with a basement, and turning the basement into a short term rental (i.e. Airbnb). Then once I move out I want to turn it into a full rental property.

Hey can I buy multi family townhouse 4 units if so how can I live in 1 unit and get a loan ?

First here

Sounds good but good luck finding a multifamily home for sale

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Usda direct/guarantee single only, you can lose your home if you get a girlfriend or boyfriend or married

Cons: 1. Live there for a year. 2. Inventory. There are not as many properties. 3. Manage property

Do you have to have a rental license to buy and rent out a duplex? I'm sure it varies from state to state. When i googled it for Minnesota it says license is needed. But i asked a real estate agent here and she said it's not necessary. I asked someone at work and he said it's not necessary. I don't know what to go with 🤷🏾