My First Apartment Building Questions.
Hey everyone, I've saved up enough to invest in my first deal and would love your suggestions. I want to own an apartment building with the plan to be buy and hold, while letting the tenant pay off the loan so I can eventually own it free and clear and have it cashflow. I have between $300-500K to invest but want to be completely hands off as I value my location independence.
I'm looking for some type of online platform where I can pool my money with other investors, and be completely hands off.
So far the only thing I could find that's even close is Fundrise's Growth eREIT. But that's not exactly what i'm looking for as I'd rather buy and hold than have the plan be to sell it off in 5-7 years. Any pros and cons of using them vs. another platform?
I'd love to find some type of online investment club where everyone else has as much skin in the game as me so I know they're not going to take risky deals. Any ideas what that would be?
Any pros and cons of what I mentioned above or alternative solutions would be appreciated. Thanks everyone!