Getting Started In Real Estate Investing

[Nathaniel Jee Hoon Weber]

Hey Everyone, 

I'm new to BP and Real Estate Investing, but i know i want to get into Multi-Family and Apartment Investing. What would you recommend? I am currently reading the book "ABCs to Real Estate Investing" and i've learn some good information so far. But i wanted to get feedback from people who are already doing it. How did you approach your first deal? Would you recommend getting into flipping single family homes first before you get into multi-family or apartments? This was suggested from a friend.

[Chris Tracy]

@Nathaniel Jee Hoon Weber- Flipping houses is not a prerequisite for buying apartments.  People go that route, so they can scrape up cash that they can ultimately park into a small apartment deal.  However, with larger deals... the syndication business model is typical and one would leverage other people's $ via private lenders.  I got my first deal done recently with my group this way.  If you're ready to go to the next level... link up with a small team that is already in the game and is doing deals, and see how you can bring value.  You could of course, form your own team from scratch, but there's some key variables you're going to need (ie. a sponsor, someone to underwrite deals, someone to look for deals, investors, someone to do research, etc.), as well as some educational support (ie. coaching) to help you navigate uncharted waters and avoid any pitfalls.