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Updated 6 months ago on . Most recent reply

User Stats

12
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7
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Devan Dorzok
  • New to Real Estate
  • wisconsin
7
Votes |
12
Posts

beginner mistakes to avoid

Devan Dorzok
  • New to Real Estate
  • wisconsin
Posted

Hi everyone, I was wondering if anyone has some common mistakes to avoid when first starting out in long term multi-family rentals. I am currently looking at a multi-family foreclosure that needs about 60K in repairs, the numbers look good in the rental estimate calculator. Any suggestions on what things to look out for, and or questions to ask contractors and inspectors would be greatly appreciated.

Thank you!

  • Devan Dorzok
  • Most Popular Reply

    User Stats

    5,208
    Posts
    4,203
    Votes
    Nicholas L.
    #2 Starting Out Contributor
    • Flipper/Rehabber
    • Pittsburgh
    4,203
    Votes |
    5,208
    Posts
    Nicholas L.
    #2 Starting Out Contributor
    • Flipper/Rehabber
    • Pittsburgh
    Replied

    @Devan Dorzok

    don't buy something out of state that you haven't personally seen

    don't start with a major rehab

    don't trust spreadsheet math

    start with a house hack

  • Nicholas L.
  • Loading replies...