buying multifamily for the first time as a rental property

[Antonio Mcclinton Jr]

My name is antonio mcclinton jr and I am in memphis Tennessee and I have been looking at this 24 unit for months now but its for sale for 2. 136 mil.  I have read and listen to podcast like crazy and im still doing it but its time for me to make the jump but for someone just starting out am I getting ahead of myself or should I start off alot smaller? Any advice would be highly appreciated

[Eric Sullivan]

If you are really committed to doing this specific deal I would highly recommend an experienced partner. The best part about real estate is the creative aspect of putting deals together. If you have all the capital for the down payment and the secured financing you could bring someone in who has the experience to help fill that gap. Or split the purchase with them. But if you plan to go solo and it's your first deal, I would say you might be biting off more than you can chew. Also if you are looking at financing, banks may not lend too you since you have no track record for a deal that size and you would be outside their risk tolerance level.