re: Multi-Family Housing Is A Viable Yet Overlooked Path For Home Ownership

As long as it isn’t in my neighborhood. No thanks to the trouble that comes with multi-family and/or Section 8.

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As long as it isn’t in my neighborhood. No thanks to the trouble that comes with multi-family and/or Section 8.

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You'd have a problem with something like this?

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No thanks to the trouble that comes with multi-family and/or Section 8.

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Legit Question...Are you aware that if you own rental property you are NOT required to take section 8 tenants?

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There are too many "no go" zones in American cities. If we could deal with the crime problem, we could make a lot of areas that are already built more attractive. And the people that already own in those areas would benefit greatly.

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We need the El Salvador president to come consult here.

And it’s very true that our housing issues would open up if ghettos were safer. There are many beautiful homes in the Birmingham area that sit run down because miscreants have fricked those areas.

Ensley is the local joke of Birmingham, but you can find some excellent architecture there.

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Ensley is the local joke of Birmingham, but you can find some excellent architecture there.

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Don't you DARE gentrify that area and make it better/safer/nicer

No. A double in the city with high rent isn’t unusual. In the typical suburban neighborhood, a double or townhouse seems to turn to trash. A family who purchased to live alongside elderly parents might work, but otherwise they seem to turn dumpy.

When we lived in the French Quarter, I had met a man who owned a huge number of rental units there. He was well known for being rich and dressing poor.
I was at city hall one day checking on ownership of a lot that was going to be auctioned. He and his wife were there checking on a different property. He introduced me to his wife AND lawyer. I said "well, that's convenient". they both laughed and she said that several years earlier they realized their lawyer bills were too high and it would be cheaper for her to go to law school up town that to continue to hire lawyers. So she did, and it was one of the best decisions they had ever made.

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There are too many "no go" zones in American cities.

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I've lived in multiple cities with bad reps and this is 100% correct. A lot of the houses in those areas could be very nice places as well, its really a shame.

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A 2 bedroom condo with a decent patio and garage would be a solid choice for first time home buyers.

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I agree with this. I didn't buy my first stand alone house on a decent lot until much later. I started in a condo and then a little "garden home" and built up equity and savings before I made the jump to a house in a decent subdivision. I spent time there before finally establishing equity, savings and career advancement to where I bought a nice house in a nice neighborhood. Seems like some people want the whole package dropped in their lap from the get go.

I bought and lived in half of a shotgun double after my divorce; rented the other side. It helped pay the bills and got me on my way to financial recovery way quicker than renting an apartment or struggling to pay a mortgage on a house with one income while paying child support. When I sold it 13 years later I had enough equity to buy a condo on the water and a shitty rental duplex with the cash. The shitty duplex was later exchanged for a large timberland. Doubles are great for owner occupants.