Recommendation on how to get into Multi-Family Investing

Louisville, Kentucky
Multi-Family and Apartment Investing
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Recommendation on how to get into Multi-Family Investing

Neech Yates
Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes

I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 

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Account Closed
PA · Member since 2010 · 339 posts · 168 votes
4y

Start by learning the math. It’s easy to find spreadsheets online, but I recommend learning to making your own DCFs, projections, and stuff like that. You’ll learn a lot. It’s important to use realistic numbers. Here’s what I do: I find a property and put all the financials into my spreadsheets and am blown away by how much money I will make. Then I put in realistic numbers and realize it’s a dog. Then, I go out for a beer with my friends.

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  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    4y

    If you google real estate investment groups, or equivalent in Louisville, I'm sure you will find some. I have attended local BP meet ups as well as our local re association; great networking. All the best!

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  • William Costello
    Indianapolis, IN · Member since 2021 · 193 posts · 150 votes
    4y

    Hi @Neech Yates great way to build relationships and network. Are you looking into syndication as an LP or GP? LinkedIn would be a great resource. I know Indianapolis has a meet up every month. 

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  • Colton Hahn
    Specialist · Member since 2021 · 322 posts · 273 votes
    4y
    Quote from @Neech Yates:

    I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 


     Would definitely recommend reading Brian Burke's Hand's off Investor to get your feet wet and understand the whole process.

    Once you have a grasp on the processes and the lingo, what I would do is sit down and write out what you want out of an operator. 

    What region are you wanting to target? What asset class? What time horizon? These types of questions will narrow down the list of syndicators.

    Once you have your list of companies, its a matter of sussing out which has the best track record, the best business plan, and is the most communicative. 

    Let me know if you want further guidance!

    1Reply
  • Tyler LingleBusiness Member
    Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
    4y

    Do you mean small multifamily 2-4 units or large commercial 5+ units? 

    [email protected]
    Roots Realty Co. 561 Reviews
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  • Neech Yates
    OP
    Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes
    4y

    Thanks all for the your responses. I'm not looking to join or start a syndication. I have learn its better to control the deal then join a syndication at my level of investing. I looking at 30 to 50 units. I think those would be the best return on investment at my level of investing for right now. I'm thinking a syndication would be better once I'm ready to be more of a passive investor. 

    The hardest part for me is finding a mentor that I could learn from and ask advice regularly. 

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  • Neech Yates
    OP
    Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes
    4y
    Quote from @Tyler Lingle:

    Do you mean small multifamily 2-4 units or large commercial 5+ units? 


     I'm looking for 30 to 50 units

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  • Shalini Kadaveru
    Investor · Northern California · Member since 2020 · 33 posts · 17 votes
    4y
    Quote from @Neech Yates:

    I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 

    @Neech Yates, for real estate investing you need deals and you need capital. If you are looking to find a mentor my recommendation is to start attending meetups in your area. And in the meanwhile start looking for properties that meet your criteria on CREXI and Loopnet. Reach out to brokers and join their mailing lists. You can do this in parallel while you are searching for a mentor that meets your needs. 

    1Reply
  • Nick GiulioniPro Member
    Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
    4y

    Hi Neech, I had my first purchase in Indianapolis. Now, I have more than a hundred doors. I would love to help/share my experiences and chat with you more if you're interested.

    1Reply
  • Neech Yates
    OP
    Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes
    4y
    Quote from @Shalini Kadaveru:
    Quote from @Neech Yates:

    I looking to scale up. I would like to move to Multi-Family investing. I'm just not sure how to get into it. Looking for suggestion on meet-ups. I have read books on it. But you can't has a book questions. I'm kind of stuck. Any suggestion or recommendations would really help. 

    @Neech Yates, for real estate investing you need deals and you need capital. If you are looking to find a mentor my recommendation is to start attending meetups in your area. And in the meanwhile start looking for properties that meet your criteria on CREXI and Loopnet. Reach out to brokers and join their mailing lists. You can do this in parallel while you are searching for a mentor that meets your needs. 


     Thanks for the  reply. That is my goal going forward

    0Reply
  • Neech Yates
    OP
    Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes
    4y
    Quote from @Nick Giulioni:

    Hi Neech, I had my first purchase in Indianapolis. Now, I have more than a hundred doors. I would love to help/share my experiences and chat with you more if you're interested.


     I'm very interested. I sent you a PM

    0Reply
  • Account Closed
    PA · Member since 2010 · 339 posts · 168 votes
    4y

    Start by learning the math. It’s easy to find spreadsheets online, but I recommend learning to making your own DCFs, projections, and stuff like that. You’ll learn a lot. It’s important to use realistic numbers. Here’s what I do: I find a property and put all the financials into my spreadsheets and am blown away by how much money I will make. Then I put in realistic numbers and realize it’s a dog. Then, I go out for a beer with my friends.

    2Reply
  • Neech Yates
    OP
    Investor · Louisville, KY · Member since 2016 · 14 posts · 2 votes
    4y
    Quote from @Account Closed:

    Start by learning the math. It’s easy to find spreadsheets online, but I recommend learning to making your own DCFs, projections, and stuff like that. You’ll learn a lot. It’s important to use realistic numbers. Here’s what I do: I find a property and put all the financials into my spreadsheets and am blown away by how much money I will make. Then I put in realistic numbers and realize it’s a dog. Then, I go out for a beer with my friends.

    Thanks for the reply! Love the suggestions. Recommendations on where to find a good spreadsheet?
    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    4y
    Quote from @Neech Yates:

    Thanks all for the your responses. I'm not looking to join or start a syndication. I have learn its better to control the deal then join a syndication at my level of investing. I looking at 30 to 50 units. I think those would be the best return on investment at my level of investing for right now. I'm thinking a syndication would be better once I'm ready to be more of a passive investor. 

    The hardest part for me is finding a mentor that I could learn from and ask advice regularly. 


     I would keep asking different people. The worst thing someone can say is no. I have been able to meet up with huge investors by just being persistent. They may not have time to mentor me but the time I did spend with them was so insightful. Keep trying! 

    0Reply
  • Dylan MichaelsPro Member
    Real Estate Agent · Northeast, OH · Member since 2019 · 6 posts · 6 votes
    4y

    Just do it. I would start by talking to local property managers and going to local Real Estate investing groups and see how others got their start. Good luck.

    330-576-5741
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  • Account Closed
    PA · Member since 2010 · 339 posts · 168 votes
    4y
    Quote from @Neech Yates:
    Quote from @Account Closed:

    Start by learning the math. It’s easy to find spreadsheets online, but I recommend learning to making your own DCFs, projections, and stuff like that. You’ll learn a lot. It’s important to use realistic numbers. Here’s what I do: I find a property and put all the financials into my spreadsheets and am blown away by how much money I will make. Then I put in realistic numbers and realize it’s a dog. Then, I go out for a beer with my friends.

    Thanks for the reply! Love the suggestions. Recommendations on where to find a good spreadsheet?

     I’ve read very few RE investing books, but one that was helpful was a book by someone with a name like Giuliani or something titled something like RE investor cash flow math or something like that. You could use the concepts to build your own APOD (APOD spreadsheets are all over the Web). Then start expanding the spreadsheets to make projections and figure out IRRs and stuff.

    0Reply
  • Jacob H.
    Rental Property Investor · Orlando, FL · Member since 2018 · 64 posts · 54 votes
    4y

    My partner and I decided to combine our capital together and find something that needed some value add. We found a 14-unit that needed quite a bit of work, had a lot of room for rent growth, was a pocket deal not on the MLS yet, and had just fallen through when the other buyer couldn't get financing. A lot of things aligned for it to happen but the important thing was that we knew what we were looking for, combined our capital together, and had a broker looking for deals for us. As soon as one came up that met our criteria, we took it.

    This was our first investment property so as others have said, you can just jump right on in. I will say that we have learned a lot and made plenty of mistakes throughout.

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