What's Your Main Obstacle in Buying an Apartment Building?

[Michael Ealy]

My question is: what stops YOU from acquiring an apartment building?

Is it...

• lack of capital?
• lack of know how?
• mindset?
• fear of doing a big deal and then failing?
• can't find good deals?
• bad credit?
• something else?

Whatever stops you from thinking BIG and acquiring apartment buildings, share it here. I will give you ideas on how you can overcome the number 1 obstacle preventing you from acquiring apartment buildings.

I have acquired over 1,000 apartment units (and I did it with no money and bad credit) and I shared how I did it, here on BP:

Part 1 - https://www.biggerpockets.com/forums/55/topics/690349-from-bankruptcy-to-1-000-units-part-1-thru-the-dark-tunnel

Part 2 - https://www.biggerpockets.com/forums/55/topics/692382-from-bankruptcy-to-1-000-units-part-2-rising-from-the-ruins

Part 3 - https://www.biggerpockets.com/forums/48/topics/695243-from-bankruptcy-to-1-000-units-part-3-how-to-build-an-empire

Who wants to go first?

[Fabiola F.]

I have the operational structure together, equity partners, financing, and have targeted B-/C class value add deals in 4 key markets. I don't have anything holding me back nor obstacles, but it's a marathon finding the right deals with the right footprint (20+ units) and competitive cost per door, and that's probably where many people tap out. 

I've negotiated on some but some of the pricing are still overly optimistic for distressed/value add, and I'm looking for strong cash flow and double digit cap. So I don't allow myself to get overzealous by the thirst to just do a multifamily. Goal is 100 doors by Dec 2019, and I'll get there. Right now I'm driving for dollars and calling owners direct to see who's open to offers, which is the tedious part. But if it were easy, everyone would be doing it, right?