New Investor Strategy

[Ben Davis]

Hi All,

I'm a new investor in the Minneapolis metro area and I'm really interested in apartment building investing for many reasons. I have heard many times in the podcast and in other areas to start small, whether that be single family houses or small multifamily buildings. I also hear a lot that you should stick with one thing and master it and not switch between investing strategies.

So my question is, what do you think about me finding someone in the area that is doing well investing in apartment buildings and try to help them out some way in order to get an "in" to that type of investing first, rather than starting out small?

I was thinking about something I heard on the BP podcast once about starting out doing bigger deals so that the natural exponential growth of my business would grow off a much larger base. For example, start out with a 24 unit building and grow from there rather than grow up to a 24 unit building and beyond.

My plan would be to, like I said, find someone around here that would be willing to let me help them in their business, in exchange for a little insight on the business. Hopefully I could then partner with them on a deal once I have gained enough "know how" and they trust me enough to let me take over the operations of a deal. All of this would be contributing to a portfolio of experience that I could show potential investors and lenders on my own deals in the future.

I feel like this might be my best shot at learning about this side of investing, on top of all the material I have read and listened to on the topic. Like it is said, you don't ever know what you are doing until you actually do it!

Thank you very much for taking the time to read my spiel! Hopefully you have some opinion or insight on the topic, or experience you can share.

Many thanks, Ben Davis