Things to consider for a beginner small multifamily investor

[Victoria Coleman]

For those of you who invest in small multifamily properties, what are some of the mistakes you’ve made? What advice would you give a beginner interested in investing in small multifamily properties?

[Brian Briscoe]

Rule #1 Keep reserves and never run out of cash.  There will be expenses that aren't covered with the monthly cash flow and there will be vacancies.  Make sure you can weather a long storm.

Rule #2 Do your due diligence - both physical and financial. Make sure you will actually cash flow after the bills are paid... I had one SFR that did not cash flow and it was quite a drag...