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Updated 6 months ago on . Most recent reply

Devan Dorzok's profile image
Devan Dorzok's profile image
Devan Dorzok
  • New to Real Estate
  • from wisconsin
  • Member since May 10, 2024
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12
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7
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Devan Dorzok's profile image
Devan Dorzok's profile image
Devan Dorzok
  • New to Real Estate
  • from wisconsin
  • Member since May 10, 2024
Connect
Devan Dorzok
  • New to Real Estate
  • wisconsin
7
Votes |
12
Posts
Starting Out

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
    • Milwaukee, Wisconsin
    1 Vote
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    Nicholas L.'s profile image
    Nicholas L.'s profile image
    Nicholas L.
    • #2 Starting Out Contributor
    • Flipper/Rehabber
    • from Pittsburgh
    • Member since Jun 5, 2018
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    Nicholas L.'s profile image
    Nicholas L.'s profile image
    Nicholas L.
    • #2 Starting Out Contributor
    • Flipper/Rehabber
    • from Pittsburgh
    • Member since Jun 5, 2018
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    Nicholas L.
    #2 Starting Out Contributor
    • Flipper/Rehabber
    • Pittsburgh
    4,203
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    5,208
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    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.
    • 13 Votes
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