All Forum Posts by: Hubert Washington

@Michael Zagorsky

Thanks for your response. What excites me about commercial MF (5+ units) vs residential MF or SF is the concept of "Forced Appreciation". Basically a commercial MF property is valued based upon the Net Operating Income (NOI) generated. By increasing the NOI, you force the property to appreciate. To me commercial MF functions more like a business than an investment - You have more control and the better you run the property, the more it is worth - just like in business!

@Alex Chin

Thank you for your input and for laying out a potential path for me. That is definitely one of the directions I am considering. One of the concerns that I had was being limited on the number of residential MF properties  (I read somewhere that most banks will only finance up to 4). Is that accurate?

@Joel Florek

Reading your post  Years Old with in 10 Months! was incredible for someone like me who is just starting out. It was actually after reading it that I made the decision that I CAN go directly into MF despite what others have said about starting small. Thank you so much for sharing your story and thanks for sharing your advice on my post. I appreciate your offer to review my numbers and will be reaching out to you! (BTW, if you have not read Joel's post - you may definitely want to!)

@John Davis

Congratulations on your first MF! Thank you for sharing your story and for your advice. How many units is your MF?

@Charles A., I would like to talk with you about this opportunity.

@Mike Sedlacek

Thanks for sharing your path and your advice. I wish I had known what I do now 10 years ago so I could have started like you. But I am here now and ready to jump in with both feet!

@Jeremey Allen

Great Plan! Unfortunately for me, I have a wife and 2 kids so that option is a little more challenging for me. I am excited to see how that turns out for you!

@Thomas Rodgers

I agree that education is the first step which is why I have been spending at least 3 hours every day reading, listening, and exposing myself to everything I can find about multifamily investing.

@Naveen Desai

Thank you! I have thought about how I can gain some experience in property management and will need to find a way to work it around my 9-5.

BP Community,

I would like to receive input from those in the community who have more experience than I do. First a little background on me. I am new to real estate investing and BP. I started my journey a little over a month ago when I came to the realization that investing in real estate was going to be key to achieving financial freedom. In the last month I have read and listened to anything and everything I can get my hands on. I stumbled onto the world of multifamily investing by mistake and instantly knew that this is where I wanted to be. I have since focused my energy strictly on multifamily and have l have learned a lot of the foundations of investing in MF. So that brings me to my question:

How can I make my first ever investment in real estate be in multifamily/apartments? 

I ask the question "How can" because I know that this is what starts the process in my mind in figuring out how to solve the problem and make it a reality. In my research, I have come across many who say that "you can't jump directly into multifamily", "you have to start with SF and work your way up", "no one will take you seriously since you don't have any experience in MF". However, I have chosen to reject this line of thinking and am focusing on instead how to make this a reality. I am not naive. I understand that capital, experience, net worth, and liquidity are all factors for securing investors and financing. I have 1) saved up over $100k that I am looking to start with, 2) family who are interested in contributing to the right opportunity, 3) a six figure income and 750+ credit score (I understand this is not as important on the multifamily side of things) and 4) a burning desire to make this happen.

Knowing that there so many of you out there that are further down the road than I am and have infinitely more experience than I do, I am requesting the assistance of the BP community to help me answer the question "How can I make my first investment in real estate be in multifamily/apartments?" Again, I've already heard from the people who say that it CAN'T be done. Now I want to hear from those say that it CAN be done. I hope that the responses on this post will be encouraging to anyone else out there who is looking to get started in multifamily. Thank you in advance for all of your valuable wisdom.