new to multi family

[Brian Jones]

Hello to my fellow investors I am looking into investing in multifamily units anything from at least a four-plex up to a 10 unit to start can anyone tell me the best site to find good property & the best way to get started..blogs on this.? Etc..any & all help would be appreciated much

[Azeez K.]

Hi @Brian Jones

One of the many ways to get started:

1. Education: 

• Start reading books on MF - Example - Multi-Family Millions by David Lindahl
• Financial Education - Understand how to value Real Estate and key financial concepts - Understand 1) Capitalization Rates or Cap Rate and Cash on Cash Return - read up on Investopedia 2) Read up 50% rule  3) Other financial concepts Internal Rate of Return, Debt-Service Coverage Ratio, Break-even Ratio, ROE etc
• Read articles on MF Investing

2. Network

• Network with people who are currently doing MF and surround yourself with the same people
• Use BP Events and Happenings section to see local meetups in your area

3. Analyze -

• Analyze MF every day on all the financial metrics and analyze as many MF properties as you possibly can 
• Overtime you will learn to differentiate between good vs. bad and you will have a better idea of what you like and what you don't

4. Prepare

• Get your financial affairs in order - Pre-approval, how you will source funds etc 

5. Action

• Take action - Don't just wish for things to happen work for it. 

Hope this high level post points you in the right direction. Good Luck!