Advice! Transitioning to Multifamily

[Shafi Noss]

Hey there,

I'd like to get your opinion on a strategy for transitioning into multifamily. A partner and I will have about 300k (partly from us partly from investors) to invest come January, we both have some experience with single family, but value-add apartment buildings are our end goal. We haven't done a multifamily deal before so we're thinking of buying a 5-10 unit, high cap rate multifamily that requires little value add, learn the basics, get a bit of a track record, and then go bigger on our next project.

What do you think? Is it a good use of money? What should we offer investors since there is no value add? Is it a good strategy? Any other thoughts or advice?

--Shafi