Going into my first small multifamily rental deal
Hey!
What advice do you have for someone approaching their first investment deal? I will be buying a small multifamily unit and want to minimize my mistakes. I want to avoid as many pitfalls as possible on my first deal. Any common newbie mistakes I should be aware of?
Thanks!
Most Popular Reply
@Tucker Walser broker relationships are the most important because they'll bring you good deals. If you're constantly searching in different areas without having a track record, then you'll always get the worst deals. Aside from brokers, property manager relationships are important too because they'll be the ones that let you know whether or not your projections are realistic as you're evaluating deals. Focusing on one area as you start out helps you develop better relationships with both.