Why I'm switching from single family homes to multifamily
I'm not trying to reinvent the wheel. Most people nowadays know the argument for multi-family vs SFR's. I've been involved in buying, selling, renting, renovating, and owner financing SFR's and mobile homes for 13 years now. It's had ups and downs and has made me a decent living but it also feels like I've been treading water most of the time.
I've done some soul searching lately to try and figure out why I've been so resistant to multi-family until now. I'm realizing that what got me into being an entrepreneur was my desire for independence and "doing things my own way". What happens when you reach the limit of how well your own way works?
Some people will simply ride it out. I've decided that I'd rather join up with people smarter and more knowledgeable than I am verses holding on to the identity of being a lone wolf investor. Being in a hot market like Austin has pluses and minuses on this front.
On the one had there are many of top level pro's doing this here. This gives me a lot of people to learn from and meet. On the other hand there is a LOT of competition. The danger I see if people starting to overpay just like I saw them doing in the SFR world back in the mid 2000's. So I don't know if Austin will be where I end up focusing my actual investments in, but it's where I will start the education process.
For now the game plan is to work with some of the syndicators as a passive investor. I am accredited so this is a big plus. I'm going to learn as much as I can on both the operator side as well as the capital raising side to see which niche better suits me. And when the time is right, I will start building my own team.
So these blogs will be showing my progress as it happens. I'll also shoot video whenever possible just to make things a little more lively.