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

Benjamin Louie · Answer

@Berkcan Kapu

Hey, I feel you building a network can be tough, especially in a pricey market like Virginia. I’d start by jumping into local meetups or online groups like BiggerPockets or Facebook. Just putting yourself out there and asking questions goes a long way.

Also, try to connect with agents who know multifamily; they usually have good connections and can point you in the right direction.

It takes time, but if you stay consistent and keep learning, you’ll build your crew.

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.

Jeux Marseille Fajardo · Answer

Hi Berkcan,

I saw your post about wanting to get into multifamily and build a strong network. I can totally relate — connecting with the right people has been one of the biggest challenges for me too. Out of curiosity, are you mainly looking to invest locally in Virginia, or are you open to out-of-state opportunities as well?

Remington Lyman · Answer

Start by joining local real estate meetups or REIAs since those are great places to meet agents, lenders, and other investors. BiggerPockets itself is also a solid way to build connections, especially if you consistently contribute and reach out to people in your target markets. Even if your local area feels too expensive, the relationships you build now can lead to partnerships and deals elsewhere. The key is to show up regularly and add value so people want to grow with you.

Jimmy Lieu · Answer

Cool to see you posting here on BP! Building a network is honestly one of the most important parts of real estate, and it can feel tough when you’re starting from scratch. The best way to get connected is to plug into investor-friendly markets where there are a lot of active players and opportunities to collaborate. Columbus, Ohio is a great example—it’s landlord-friendly, still affordable compared to a lot of places, and you can find multifamily or small residential deals in the $120K–180K range that hit the 1% rule and cash flow. On top of that, the macro picture is really strong here: population growth, job growth, and tons of major companies moving in like Intel, Amazon, Google, Honda, and Microsoft, which all push long-term demand and appreciation. A lot of out-of-state investors come here because the local community is pretty open to networking, and with a good property manager and agent you can absolutely succeed even from a distance. If cash flow and affordability are your main drivers, it’s definitely worth a closer look. Happy to connect and answer any questions you have!

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.

Where to start buying MultiFamily?

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