1st deal - small multifamily or partnering on a bigger deal?

[Noah Levenson]

Hey everyone, I'm looking for some advice here. I have two paths forward to get my first deal done, and I'd love to tap into the collective wisdom of the BP community for feedback.

Option 1: Buy my own small multifamily (2-4 units)

• However, it's been difficult to find actual "deals" and candidly I haven't put in the effort to go all out, with direct mail, digital ads, out of state owners, etc. mostly just working with brokers and looking at the various online sources. 

Option 2: Partner w/my family business on a larger deal (80+ units)

• I'm in a lucky spot where REI is my family's business. The company has cash on hand that I could contribute too and begin looking for a larger property. Our criteria is 80+ units unless we can buy up nearby properties or it's near something else we own.
•  So if I could invest and get 10% ownership of a larger deal, with the efficiency that brings in: solid property management, less volatile vacancy figures, etc. would that be a the better route than trying to do it on my own with a much smaller deal?

I think there's pros and cons to both, but to be clear in other scenario I want to lead or be actively involved in finding and managing the deal so I can begin to build up that muscle. The question is, with the opportunity to partner on a bigger deal with people I trust 100% i.e. my dad and brother, does that accelerate my timeline to really making a successful RE portfolio?

Thanks so much and please feel free to send any deals my way too! I'm actively looking!

Noah

[John Warren]

@Noah Levenson if you dad and brother are already in large multifamily, this is an absolute no brainer. You should probably never even thin about a duplex unless you are house hacking just for fun. I would immediately begin investing with your family, as you have the credibility and net worth elements that stop most newbies taken care off.