New Member Based in NYC

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Hey Everyone –

Long-time reader/listener, but first time poster here! My name is Mike, I’m 28 years old from New York City, and I’m new to real estate investing. I’ve got an MBA in Finance from NYU Stern and have been working in private equity for the last 6 years.

I first came across BP when I purchased my apartment about three years ago. However, I've only recently become active in listening to the podcasts and researching various REI strategies on the forums and in the books as a way to educate myself before jumping into my first deal.

My goal in real estate is to build a portfolio of buy and hold multifamily and small apartment complex rental properties. I understand that prices in my home area of New York can be a bit prohibitive to new investors, so while I’m not completely deterred from trying to find a deal here, I’m open to the fact that I may need to build my portfolio out of state (and would love to discuss best practices with those who have been successful in doing so).

Two podcast episodes that inspired me to go the multi-family route were Episode #266: “How We Used a Partnership to Buy 900 Units with Jake and Gino” and Episode #250: “Grant Cardone on Multifamily Investing and Why You Should Never Buy a House!” The common denominator here that was so intriguing was the mind set and the willingness to take action (for example, jumping into multi-family rather than trying to build a portfolio of SFRs and then trade up). I understand that there are potentially financial deterrents from this approach, but I’m lucky enough to have had a great job for a long time, and have saved up enough money to pursue this strategy.

In the short term, my focus is on my first deal and I’d love to meet with and/or speak to as many members of the BP community as possible. I don’t want to bombard the community with a ton of questions, but it would be great to hear about investors’ experiences in the small multi-family space, best practices for setting criteria and identifying a target market, and biggest traps to avoid for a newbie.

I sincerely appreciate everyone taking the time to read my intro post, and I look forward to getting to connect with you all as we pursue our respective real estate goals.

All the best, 

Mike