I am just out of college and started working for a big real estate brokerage in Columbus, OH.
I want to start buying my own properties but I am not sure what's the best way to start.
My father is a successful corporate lawyer and he wants to start investing with me.
So I have capital, now I'm wondering: Do I start with a large apartment complex?
Do I go after a small place first, get a better grip on what I'm doing then go big?
Or do I stay small and accumulate many small properties?
What would you recommend doing?
(Also I'm thinking of focusing on educating myself until the next recession, then pouncing)
@Horace Stillwell I would recommend doing a house hack on a 2-4 unit residential property to start off. Your cash on cash return is amazing, which makes finding a great deal less of a concern. It makes finding tenants easier because you are already occupying one unit yourself. You get to learn how to take care of a property first hand. You can rehab your side as you live in it. You can keep a close eye on the other units.
If you check out my bio, this is how I got started.
I would not wait for unit the next recession. I do not believe trying to time the market is a good strategy. I am a buy and hold investor. I will own these properties for the rest of my life. As long as my properties cash flow I am good.
I think starting small with a 2-4 unit is your best bet. Work your way up, build business systems, and learn along the way. You can get more aggressive as your work the kinks out of managing rental properties.
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