New to Multifamily

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New to Multifamily

Tj Bunk
Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes

Hey BP community! 👋
I’m brand new to multifamily investing and honestly, I couldn’t be more excited — or more aware of how much I don’t know yet.
I've been studying the basics: analyzing NOI, understanding cap rates, learning about financing options like FHA and conventional loans. But I know that real growth comes from learning alongside people who've actually been through the process.
I’m looking for a mentor or accountability partner who’s willing to share their experience — whether you’re a seasoned investor or just a few steps ahead of me. I’m coachable, hardworking, and fully committed to putting in the time.

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  • Janice Carter
    Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
    6mo

    Tj, welcome to the BP community. Great mindset to have starting out. In addition to BP, you may also find a local REIA group really valuable for networking and learning from active investors in your market.

    0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Janice Carter okay thank you I will check it out

      0Reply
  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 525 votes
    6mo

    The forums can be a good place to ask questions or learn about other people's experiences. There's also a tab under "Real Estate Classifieds" for "Real Estate Events & Meetups." Also, Facebook real estate investor groups or the Meetup website for your local area can be helpful for meeting other investors. 

    [email protected]818-770-0340
    Bright Skyline518 Reviews
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    0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Stacy Raskin I will check it out 

      0Reply
  • Mohammed Rahman
    Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
    6mo

    Honestly, joining your local real estate community is a game-changer. Being around people who are actually doing deals lets you ask questions, see how things work in real life, and learn from both the wins and the mistakes. Local meetups, clubs, or investor groups are also great ways to find mentors or just people a few steps ahead who can give you tips and guidance. Plus, you’ll hear about deals, strategies, and resources you wouldn’t find just by reading or studying on your own. If you’re new to multifamily investing, getting plugged into that network early can save you a ton of time and help you feel way more confident as you figure things out.

    0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Mohammed Rahman Thank you so much I will look into all that 

      0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    6mo
    Quote from @Tj Bunk:

    Hey BP community! 👋
    I’m brand new to multifamily investing and honestly, I couldn’t be more excited — or more aware of how much I don’t know yet.
    I've been studying the basics: analyzing NOI, understanding cap rates, learning about financing options like FHA and conventional loans. But I know that real growth comes from learning alongside people who've actually been through the process.
    I’m looking for a mentor or accountability partner who’s willing to share their experience — whether you’re a seasoned investor or just a few steps ahead of me. I’m coachable, hardworking, and fully committed to putting in the time.

    Hey @Tj Bunk, welcome to the BP Forum! Which property types interest you most, SFR, 2-4 MF, or 5+ MF? What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"?

    [email protected]
    0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Jaycee Greene Hey thank you, I'm looking for MF units 20-80 1970 or newer anywhere in South Carolina, price range 1-5M, 20 or 25% down, and value add. Thank you!

      0Reply
    • Jaycee GreenePro Member
      Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
      6mo
      Quote from @Tj Bunk:

      @Jaycee Greene Hey thank you, I'm looking for MF units 20-80 1970 or newer anywhere in South Carolina, price range 1-5M, 20 or 25% down, and value add. Thank you!

       @Tj Bunk So something like these: 3170 Holmestown Rd, Myrtle Beach, SC 29588 or 1815 Sumner Ave, North Charleston, SC 29406?

      [email protected]
      0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Jaycee Greene yes but B or C class

      0Reply
    • Myrtle Mike ThompsonBusiness Member
      Realtor · Myrtle Beach, SC · Member since 2016 · 352 posts · 204 votes
      6mo
      Quote from @Jaycee Greene:
      Quote from @Tj Bunk:

      @Jaycee Greene Hey thank you, I'm looking for MF units 20-80 1970 or newer anywhere in South Carolina, price range 1-5M, 20 or 25% down, and value add. Thank you!

       @Tj Bunk So something like these: 3170 Holmestown Rd, Myrtle Beach, SC 29588 or 1815 Sumner Ave, North Charleston, SC 29406?


       I would consider the property on Holmestown Rd to be "B" class.  Very desirable location.

      [email protected]843-999-2301
      Myrtle Mike Real Estate581 Reviews
      WebsiteView Page
      0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Myrtle Mike Thompson can you send me more information to my email and talk more about deals on the phone [email protected]

      0Reply
  • Matthew Bernal
    Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes
    6mo

    Welcome to BP! Multifamily is a great space to build long term wealth and studying the fundamentals first is the right approach.

    One thing worth adding to your learning list early: understand how financing actually works on multifamily deals specifically DSCR loans and small balance commercial programs. Most beginners discover these options too late and it changes how you underwrite deals from day one.

    Happy to be a resource on the financing side when you're ready to start analyzing real deals.

    What market are you thinking about investing in?

    0Reply
  • Tj Bunk
    OP
    Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
    6mo

    @Mark Kenney Hey thank you for connecting my email is [email protected]

    Im using the app and not sure how to send DMs yet 

    0Reply
  • Eric FernwoodBusiness Member
    Realtor · Las Vegas, NV · Member since 2014 · 1k+ posts · 1k+ votes
    6mo

    Hello @Tj Bunk,

    Choosing a property before understanding the behaviors of the people who will rent that type of property is putting the cart before the horse. Properties never pay rent. The tenant who occupies the property pays the rent. So, make decisions based on your long-term financial goals, not the opinions of others.

    The Multifamily Fantasy

    • Multifamily properties are exclusively owned by investors. In more than 17 years in Las Vegas real estate, I have never seen an investor sell a performing property. The ones I have evaluated were always losing money, usually due to deferred maintenance, tenant issues, or both. When I evaluate a multifamily property, I assume it is losing money. My job is to determine whether it can be turned around within a reasonable budget and timeline.
    • The claimed advantage of multifamily properties is more reliable rental income. For example, if one unit in a 4-plex is vacant, you still have rent coming in from the other three units. In practice, income from three units is often not enough to cover all expenses. When one unit is vacant, you will need to use your savings to make up the shortfall. So, instead of reducing risk, a four-unit property is four times more likely to lose money.
    • Higher maintenance costs. In a 4-plex, you have four HVAC systems, four sets of appliances, four sets of plumbing, and four times the general maintenance cost.
    • In Las Vegas, the primary renters of multifamily properties are people without children. The average stay is less than one year, so the vacancy cost for multifamilies is very high. We target a tenant segment of families with younger children. The average stay is over five years.

    So, instead of choosing a property based on others’ opinions and hoping it works out, start with your financial goals and work backward. My recommendation is:

    • Define your long-term financial goals. If your goal is financial independence, your rental income must grow faster than inflation. If rents in your local market have not consistently outpaced inflation, remote investing may be the only option.
    • Interview property managers to identify a tenant segment that is more likely to stay for many years, pay on time, and care for the property.
    • Determine what and where those tenants are currently renting.
    • Buy similar properties.

    Making decisions based on financial goals and data greatly reduces risk and decreases reliance on luck.

    [email protected]702-358-8884
    FERNWOOD Team, KW VIP Realty520 Reviews
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    0Reply
    • Tj Bunk
      OP
      Rental Property Investor · South Carolina · Member since 2026 · 13 posts · 3 votes
      6mo

      @Eric Fernwood Hey thank you for this information this will help me greatly thank you so much!

      0Reply
  • Jeremy B.Pro Member
    Rental Property Investor · San Diego, CA · Member since 2018 · 12 posts · 5 votes
    6mo

    Welcome to BP!

    0Reply
  • Todd Dexheimer
    Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    6mo

    I'd suggest finding some good podcasts to learn from. My podcast discusses MF and also growing a business. There are a bunch of other good ones as well. Get out to a few conferences and meet-ups that are geared toward MF as well. 

    0Reply
  • Cassie Peterson
    Real Estate Coach · Member since 2026 · 6 posts · 1 vote
    2mo

    Hey Tj! Welcome to the multifamily world — and honestly, you’re already doing the right thing by learning the fundamentals before jumping into a deal.

    I completely agree that having someone experienced to help you work through the numbers and keep you accountable can make a huge difference, especially when you’re first getting started.

    I work with Ellie, who specifically coaches people on multifamily investing, including underwriting, analyzing deals, and navigating the process of getting into multifamily. Your post actually sounds very aligned with what she helps people with.

    I’ll send you a DM — would love to tell you a little more about what she does!

    0Reply
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