Good Idea or Bad Idea

[Shelby Savell]

I've recently been listening to a lot of different content about RE and heavily considering jumping into the short/long rental game. With that being said I don't particularly like the idea of smaller multifamily, the numbers don't really make sense to me. I found a property that I really like, 30 units, already has PM running so its basically a turn-key short-term right now, location is great, inside the units looks great (built in 2022), but the price is way out there ($15m+). I was just wondering is it even worth my time to try and secure funding for it with me being brand new to this. Thanks!

[Ben Firstenberg]

Similar to what @Scott E. said, you can do whatever you want if you have the money for it. 

Generally it's pretty tough to jump to a 30 unit with no experience. Banks won't be super excited to give you a loan for this and other investors won't be super excited to invest equity. I won't say it's not possible though and if you feel very strongly about it, give it a try! You'll learn a lot by trying, there's no doubt about that. 

I think the bigger question is, why do the numbers on smaller MF not make much sense to you?