Real Estate Investor

Member since 2026 · 1 post · 5 votes

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

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Jaycee GreenePro Member
Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
8mo
Quote from @Lisa Elliott:

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

Hi @Lisa Elliott, welcome to the BP Forum! What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"? Are you looking for properties in your local market or somewhere else?
[email protected]
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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 968 votes
8mo
Quote from@Lisa Elliott:

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

@Lisa Elliott

Jumping straight into 20–70 unit apartments is a big move, but it’s a great way to scale faster if the numbers make sense. Don’t feel like you have to buy in your backyard either. A lot of investors are finding better pricing and stronger cash flow in Midwest markets where smaller apartment buildings trade at much more reasonable price points, which can make your first deal a lot less risky. I’d focus on conservative underwriting and lining up a solid local team, because good operations matter just as much as the purchase price.

[email protected]614-418-6081
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Janice Carter
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
8mo
Lisa, welcome to the BP community! That is an exciting space to start with 20–70 units. Wishing you success as you pursue your first multifamily acquisition.

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Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
8mo
Quote from @Lisa Elliott:

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

Hi Lisa - I'd some more research before diving into a 20+ units project. Have you identified a market or are you in a mastermind where you guys are attempting to syndicate a project?
I own 28 rental units and sold over 200+ properties in the last 2 years including a ton of larger multi-family, value-add, and turnkey investments. Happy to help provide insight or guide with market selection and cap rate expectations.
I put together an investment guideline if you would like me to share with you.
[email protected]614-802-5698
ReafCo | Ahmed Group 533 Reviews
Website View Page
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Mayo GilfurtPro Member
Real Estate Consultant · Connecticut Ct · Member since 2026 · 147 posts · 33 votes
8mo
Lisa — welcome to BP. One thing I’d add from a capital standpoint: most first-time buyers targeting 20–70 units underestimate what lenders and equity partners will actually require on a first deal.
Before even locking a market, I’d suggest getting clear on three things:
• How much liquidity you’ll need after closing (not just down payment)
• Whether your first deal needs to be stabilized vs value-add
• What loan size and structure you realistically qualify for today
A lot of newer investors move faster once those guardrails are clear. Happy to point you in the right direction as you think through it.
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G. Brian DavisPro Member
Investor · Hatboro, PA · Member since 2016 · 3k+ posts · 886 votes
8mo
Welcome @Lisa Elliott!
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Garret Rumbea
Inland Empire, CA · Member since 2017 · 151 posts · 79 votes
8mo
Hi@Lisa Elliott good to meet you. My partners and I are based out of Southern California and we invest in larger multifamily out of state, however I know a handful of operators out in different parts of FL. Typically like to connect first before sharing contact. Send me a message if you'd like to chat more
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Brooke Newport
Real Estate Broker · Indianapolis, IN · Member since 2026 · 21 posts · 11 votes
8mo
Quote from @Lisa Elliott:

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

Hi Lisa! Welcome!
If you are open to out of state, you may find better numbers than Orlando on 20 to 70 units right now. Orlando pricing has been tight, and a lot of 30 to 50 unit deals are trading where the rent barely supports the debt at today’s rates.

Quick check is this. If you buy at 150k a door for 40 units that is 6 million. At 25 percent down and current commercial rates, your debt could run around 30k a month, so you need strong rents and tight expenses to clear a 1.25 DSCR.

I work with a lot of out of state investors in the Midwest where the price per door is lower and cash flow is more forgiving. Are you set on being local to Orlando, or would you consider another market if the numbers made more sense.
Best, Brooke Newport
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Chris Grenzig
Property Manager · Orlando, FL · Member since 2016 · 479 posts · 277 votes
8mo
Quote from @Lisa Elliott:

Hi I’m new here and just getting started with real estate investing. Primarily I am looking for a multi level units/apartment complex. Complexes 20 to 70 units.

Hi Lisa, welcome to BP! Let me know if you want to connect. We've bought 150 units of multifamily in Jax, FL ranging from 3-82 units, we also manage for other owners in Jacksonville and central FL. Happy to be a resource if I can as you look for properties to acquire
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