Advice - Multifamily

[Dan Barth]

Hello Everyone,

I am new to RE and am looking for my first deal, but am really looking for advice.  I live in the Northern Liberties neighborhood of Philadelphia and have not done my first deal yet.  I have recently become a big listener of Grant Cardone, in which his method for starting out is to wait until you have $100k min in savings, then invest it into a 16+ unit deal.  I would love to go this route, but am curious as to how to get started and find a deal that large?  Any advice would be greatly appreciated!

[Chris Seveney]

Dan Barth

I cannot knock grant by any means but am curious why wait till you have $100k ? Also if you have no experience in real estate taking in a 16 unit building is an overwhelming task and if you do not have a good PM then you lose it all very quickly.

I compare this to getting your drivers license, when you get it would you start out on a 53’ tractor trailer ?

For real estate - I look for the best deal that is best for ME (which is different for every person).
But I do not lock myself into a specific type or location etc. for example I am not buying MF now because cap rates are at all time lows and rent appreciation has flatlined.

Gurus and experts can teach a lot, but learn from them and create your own path, don’t follow someone else’s