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Updated over 8 years ago on . Most recent reply

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Mason Adams
  • Littleton, CO
0
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7
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Start big or small? - Apartments or Multifamily

Mason Adams
  • Littleton, CO
Posted

Hello,

My name is Mason, I am 25 and I am looking to do my first real estate deal. 
I was thinking 20 Units+ and at this time I have captial for down payment of 100-300K.

My question is; Should I start small 1-5 multifamily properties or should I buy myself an entire complex and move forward from there?
I travel cross country non-stop so I will have to hire a property management company. I have my criteria for what I want to buy, I have read many books. I feel if all my units are in one spot it'll be easier for property management. Should I start off big and trust the property management or should I start small and handle it myself?

I appreciate any insight, suggestions, and ideas you have. 

Thanks!

Most Popular Reply

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478
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Chris Tracy
  • Specialist
  • Plainville, CT
389
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478
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Chris Tracy
  • Specialist
  • Plainville, CT
Replied

@Mason Adams- Ever consider being an investor partner in someone else's deal?  

Since you're young and you have some capital to play with, another option is you can bring some cash to the table for someone else's deal and be a silient partner.  The sponsor will report to you regularly and you can begin to learn the 500 foot overview, ask questions and adopt the thought process of an experienced syndicator and how to operate a deal that is 75+ units, etc.

I'm with @Michael Le... the bigger deals are so much better.  You just need more patience and it's more challenging to find larger deals that make sense and the game is quite competitive.

People are always looking for investors.  Make friends with some of the big dogs on here and ask them if they have any deals that you can participate in.

Food for thought!

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