What is stopping you from investing in multifamily?
Hello BP members!!
QUESTION: What is stopping you from investing in multifamily properties? What questions and/or concerns do you have about multifamily investing?
I joined BP about 3 weeks ago and have been blown away by the amount of collaboration and support within this community. Hats off to the team at BP for moderating these forums strictly to prevent spamming, a common issue with other RE forums.
I just wish BP was around when I got started in multifamily 7 years ago.
I have personally purchased 4 complexes, 3 through syndications, and done renovations ranging from $$8k/unit to $30m/unit) with returns ranging from 80-207%. My company also manages 6 other properties for other owners. I say this not to impress you but to impress upon you that I have the experience to answer most of your questions. There are also much more experienced guys on here in multifamily who I am hoping will also chime in.
My objective with this post is to change to conversation on BP to include more multifamily and show many of your SF investors how you to can invest in MF.
Let's start by answering the most common question, " I need several hundred thousand dollars to purchase a multifamily?"
Rarely do multifamily properties have a single owner. They are usually a partnership or syndication of several investors. Sometimes up to 35 investors. When I first started, our investors were able to join our syndications with a minimum investment of $10,000! That has since increases to 100k, but you should certainly be able to find newbie syndicators in your market for 10-20k minimums.
Next question?