Where can i invest 500k apartment

[Kevin Zhang]

Hi bigger pockets community, I have around 500k from home equity that I like to invest in 500k apartment. However i might not find something here in Bay Area but maybe out of state, so if you guys know of any leads that I can look into please message me. Thank you very much Kevin

[Chris V.]

Originally posted by @Kevin Zhang:

Hi bigger pockets community,

I have around 500k from home equity that I like to invest in 500k apartment. However i might not find something here in Bay Area but maybe out of state, so if you guys know of any leads that I can look into please message me.

Thank you very much Kevin

 Hi Kevin - Consider partnering on a larger deal with other equity and experience partners. That way you accelerate both your learning & earning.

For example: I just partnered with two friends on a 38 Unit close to Sacramento that we are closing on on the 15th of this month.  They work fulltime and between the two bring in the majority of the $1.1M we needed to pay down.

While I also bring in a significant part of that equity I benefit from my partners equity contributions. And they in turn benefit from my experience and the fact that I am available full time to get this deal over the finish line and take on most of the asset management afterwards. 

Since it is a partnership (TIC) and not a syndication their experience goes from 0 to 38 units + they are on a Fannie small balance no recourse loan, so they get that on their resume too. Plus, they can be as involved as their full-time job allows them to be, or not, since I am available to do the work the property management company does not do anyway.

Anyway, If I were in your shoes (as I once was) I would look for something like that. If you want to make it big in real estate you need know accept that at the higher level it's a team sport.

If all the above does not mean much to you, I'd recommend studying Multi Family/commercial investing a bit -  As I wish I would have done *before* wasting years doing duplexes and triplexes that while they worked out great for me do not scale and are a slow game:).

Hope this helps!

Best,
Chris