Where to start buying MultiFamily?

Question

I would like to buy multifamily, but I don't know how to make a good network. I don't know any agents or anyone that can guide me. It is also extremely expensive in the Virginia region I am located at. I need help.

more than anything I need to connect with people that we can grow together

Drew Sygit · Answer

@Berkcan Kapu why don't you start with defining your BuyBox and also selecting an area to target for investing?

Here's a sample BuyBox you can use:

Motivation for Investing: _____________

Risk Tolerance:
High
Medium
Low

Type of Investing:
Wholesaling
- How are you going to find motivated sellers willing to sell for LESS than market value?

Flipping
- How are you going to find reliable contractors?
- How will you estimate & budget so profitable?
- How will you monitor quality of work?

Rentals
- LTR: 12+ months
- MTR: 30+ days
- STR: < 30 days

Rental Property Plans:
BRRRR: Buy, Renovate, Rent, Refinance, Repeat
House Hack: live in property while repairing

Property Class:
A: Tenants with 680+ FICO scores
B: Tenants with 620-680 FICO scores
C: Tenants with 560-620 FICO scores
D: Tenants with < 560 FICO scores
Other: ____________

Property Type:
SFR
Small MFR (2-4 units)
Medium MFR (5-20 units)
MFR 20+ units

Finances:
Cash: $_____
Mortgage Pre-Approved Amount?
Conventional Mortgage
DSCR Mortgage
DSCR Renovation Mortgage
Other: $_____

Purchase Budget: $_____

Repair Budget: $_____

Property Condition You are Willing to Work With:
Turnkey < $3,000
BRRRRR > $3,000
BRRRR > $15,000
Target Rent-to-Price Ratio: _____

Target CAP Rate or ROI: _____

Target Cash-on-Cash: _____

Deed/Title:
Your Name: required for FNMA, FHA & VA mortgages
LLC: required for most DSCR mortgages
Trust
Partnership
Other

Aaron Zimmerman · Answer

With building a network, it starts with meetups, whether they're in person or virtual. You can build your network pretty. Otherwise, you can look to connect with people on BP. Either way, building a network is crucial so you can meet realtor, lender, tradespeople, etc.

If you're trying to invest in Virginia, it's probably worth exploring house hacking. There's people that do it each day in your market. It's a much lower entry point when you're putting down 5-10% compared to 25%.

If you're trying to go out of state, you'd want to build the core 4 of realtor, lender, contractor, and property manager.

Zachary Deal · Answer

States like OH, IN, etc (generally the midwest) tend to have strong DSCR ratios on 2-4 unit properties. Upstate NY as well but the market can be very competitive due to strong cash flow, etc.

Ashley Price · Answer

I would love to connect you with I fund many projects across the US and can provide hotspots and financial assistance to support your projects!

Joseph Bui · Answer

I’ve with a number of agents in various markets, Memphis, Detroit, Indy, St. Louis and others. Happy to connect you to my favorites. if you have any questions around financing your rental, feel free to reach out. I work with a lot of investors and help them with financing their rentals. I’m an investor myself with 8 doors across Memphis and Detroit. Happy to just connect and knowledge share.

Arman Ahmed · Answer

@Berkcan Kapu

Hey Berkcan, you’re asking the right questions. Starting out, it’s all about building connections and learning from people who’ve done it. One strategy is to focus on markets that are more affordable than Virginia—Midwest cities often offer strong cash flow and lower entry costs for small multifamily. Attend local REI meetups, connect with active investors online, and reach out to brokers or property managers in those markets. Surrounding yourself with people doing deals will teach you far faster than reading alone.

Min Zhang · Answer

The good news is this business is very network-driven, and you can absolutely build those connections from scratch. Forums like this are a solid first step since you’ll find plenty of folks willing to share experiences. I’d also suggest attending local meetups, REI groups, or even virtual masterminds! sometimes the best partnerships and referrals come from just showing up consistently.

It can feel overwhelming at first, but surrounding yourself with like minded people really speeds things up. Just curious, are you hoping to focus on smaller multi units first, or are you leaning toward larger buildings down the road? Happy to keep the conversation going!

Brandon Arce · Answer

Hi there, when i bought my first multifamily I paid top dollar, but the main thing is that the mortgage was covered by the rents. It was tough at the beginning when there were no tenants or when repairs were needed. But I practically helped me live rent free. 20 years  later it cash flows $4K per month, so don’t be afraid to jump in.

Where to start buying MultiFamily?

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