Just getting ready to get in the game

Member since 2025 · 5 posts · 4 votes

Hello BP My wife and I are taking the steps to getting into the game. I would like to hear from all pros any and all advice. Our plans is to get into the multi family. We have pulled the equity from our home started the LLC.

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Jacob CamhiBusiness Member

Hinton, WV · Member since 2026 · 131 posts · 40 votes

2mo

hey, that's awesome you're diving in. since you're looking at multifamily and have capital ready, i'd really focus on a few things right now. first, get super specific on your target neighborhoods. what are rents really going for for similar units in those areas? check vacancy rates and how property taxes are typically assessed. second, make sure you connect with a lender who specializes in investment property loans, not just residential ones. the financing can be different for multifamily. third, define your ideal property: how many units, what condition, what cash flow you need. having these clear helps you quickly filter for "your deal" that fits what you're trying to build. good luck.

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Jacob CamhiBusiness Member
Hinton, WV · Member since 2026 · 131 posts · 40 votes
2mo
hey, that's awesome you're diving in. since you're looking at multifamily and have capital ready, i'd really focus on a few things right now. first, get super specific on your target neighborhoods. what are rents really going for for similar units in those areas? check vacancy rates and how property taxes are typically assessed. second, make sure you connect with a lender who specializes in investment property loans, not just residential ones. the financing can be different for multifamily. third, define your ideal property: how many units, what condition, what cash flow you need. having these clear helps you quickly filter for "your deal" that fits what you're trying to build. good luck.
2 Reply
Ken M.
Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
2mo
Quote from @Dat Vu:
Hello BP My wife and I are taking the steps to getting into the game. I would like to hear from all pros any and all advice. Our plans is to get into the multi family. We have pulled the equity from our home started the LLC.
Be careful, from what it looks like right now, even some big experienced multifamily investors are losing money. I'd get trained before putting money into anything.
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Dat Vu
OP
Member since 2025 · 5 posts · 4 votes
2mo
Love love thank you love the feed back please keep this going. Any and all advice is much appreciated.
0 Reply
Tom S.
Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
2mo
@Dat Vu Definitely look at what kind of financing you qualify for (and how much), especially if you're buying in the LLC. The downside there is loan terms typically aren't as favorable, higher points / fees / pre-payment penalties.
1 Reply
- Dat Vu
  OP
  Member since 2025 · 5 posts · 4 votes
  2mo
  @Tom S. Yes we are seeing and finding that now high interest rates but we all have to start somewhere and work with what we got
  0 Reply
Diane Camejo
Lender · Miami, FL · Member since 2026 · 6 posts · 7 votes
2mo
Congratulations! It's exciting to see you're taking the leap. Building a strong team early can save you a lot of headaches down the road. Surround yourself with professionals you trust and don't be afraid to ask questions—everyone starts somewhere. If I can ever help answer financing questions as you're getting started, feel free to reach out. Wishing you both a lot of success!
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- Dat Vu
  OP
  Member since 2025 · 5 posts · 4 votes
  2mo
  @Diane Camejo I so agree.. building a team is what we are trying to do now just trying to have people give us advice. Send us down avenues to look at point out what to do and what not to do we feel it very, very important considering that this is our first investment that could change the rest of our life, we want to take things slow and be very cautious of what we do. as of right now we're trying to surround ourselves around people. They're willing to take us under their wing. Show us the ropes what to do and what not to do
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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 904 votes
2mo
Quote from @Dat Vu:
Hello BP My wife and I are taking the steps to getting into the game. I would like to hear from all pros any and all advice. Our plans is to get into the multi family. We have pulled the equity from our home started the LLC.

Congrats on getting started! You've already taken a couple of the biggest steps by tapping your equity and setting up an LLC. My advice is to stay patient and focus on buying a great first deal instead of just buying the first one you see. If you're open to investing out of state, it's worth comparing Midwest markets, where many investors are finding lower entry prices, solid cash flow, and good multifamily opportunities. Just as important, build a strong local team because the right agent, lender, property manager, and contractor can make all the difference.
[email protected]614-418-6081
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- Dat Vu
  OP
  Member since 2025 · 5 posts · 4 votes
  2mo
  @Arman Ahmed I agree right now we are being cautious and taking our time talking to people meeting people. Considering that this is our first investment that could change the rest of our life we want to take things slow. Ideally for us we want to be in Florida more into the Sarasota area.. We are walking into this open minded, but being cautious since this is our first major investment, we're trying to take in all advice from anybody and everybody also to build a team family friend mentor that will help guide us and to achieving our goals. Ideally for us, we want to be in Florida investing in multifamily, possibly looking at STR's in turn key ready, multifamily homes.
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Kamil Lysik
Property Manager · Warsaw · Member since 2026 · 107 posts · 37 votes
2mo
Hi,
A few things worth hearing early:
- Don't rush the first deal. Underwrite conservatively — real vacancy, capex reserves, and rent growth you can actually defend, not pro forma dreams.
- House-hack if you can. If either of you can live in one unit of a small multi (2-4 units), you get better financing terms and learn landlording with lower risk.
- Get your team before you need it — lender, agent who knows multifamily, PM, and a contractor for estimates.
- Be careful pulling home equity. Know your break-even and have a cash reserve — don't be one bad month from trouble.
- Network locally too, not just here — local REIA meetups often surface off-market deals BP won't.
Good luck
1 Reply
Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
2mo
One thing I'd keep in mind is that your down payment is coming from borrowed money, which means you're already starting with a higher cost of capital than someone bringing cash savings to the deal. That doesn't mean it's a bad idea, but it does mean you have less room for mistakes.

Focus on solid properties in good locations with stable demand and realistic cash flow. Make sure you're accounting for the realities of today's operating environment which is why I would stay away from C/D class properties that are disproportionately impacted by today's costs.

For your first deal, I'd worry less about hitting a home run and more about buying a property with strong fundamentals that can withstand a few surprises.
[email protected]
1 Reply
Raymond J. RodriguesBusiness Member
Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
1mo
@Dat Vu congratulations on getting yourself ready. Reach out to @Josh Green. He is our BP local expert when it comes to real estate investments!
[email protected]619-456-8311
Helm Mortgage Corp.5123 Reviews
Website View Page
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Mohammed Rahman
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
1mo
Hey Dat,
One thing I'd recommend early on is talking to a lender. Understanding where you stand financially, what you qualify for, and what your buying power looks like will make the rest of your search much more focused. It also helps you identify anything you can improve before you're ready to make an offer.

From there, I'd define your investment criteria. Know your budget, target cash flow, preferred property type, and the areas you want to invest in. Having a clear buy box makes it much easier to evaluate opportunities instead of chasing every listing that pops up.

I'd also spend time analyzing deals, even if you have no intention of buying them. The more reps you get underwriting properties, the more confident you'll be when the right one comes along.

And keep building your network. Not just by meeting people, but by developing real relationships with investors, lenders, contractors, agents, and property managers. Those relationships often become just as valuable as the deals themselves.

Best of luck to you and your wife. Feel free to reach out if you have any more questions, my DMs are always open!
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Noah Fischer
Investor · Tampa · Member since 2026 · 7 posts · 2 votes
10h
Hi @Dat Vu , congrats on getting moving! That is often the hardest part.
One thing worth confirming before you get much further. Buying a 2 to 4 unit inside the LLC usually takes conventional residential financing off the table, since Fannie and Freddie want title in a personal name at closing. That pushes you toward DSCR or commercial, which generally means a larger down payment, a higher rate and sometimes a prepayment penalty. A lot of people form the LLC first and only find out at the loan application that it cost them the cheapest money they had access to. Worth asking your lender whether buying in your own names makes more sense, and what moving it into the LLC afterward would actually involve.
The reason I'd sort that out now rather than later is that you have already drawn the equity, so the clock is running while you shop.
I'm based in Tampa, my family runs vacation rentals on the Gulf coast, and I'm building a tool that pulls Florida public records to help assess carrying costs. If you tell me what you're looking at, or even better a specific address, I can pull the records and tell you what I find. No cost or catch, the tool is in development and I'm looking for real deals to run it against.
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Miki Jovanovikj
Real Estate Broker · Illinois, FL · Member since 2022 · 21 posts · 4 votes
8h
Check the market you’re investing in, demand, RE strategy ( long term, mid term or short term ) House hack or full investment property / multi. Up to 9 units you can get DSCR 30 years fixed. Last few weeks DSCR has shown lower rates than conventional investment. Do the numbers and pull the trigger buddy. Good luck !
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