Starting Big - Is that crazy?

[Cort Green]

I'm ready to make an offer on a multi-family. I've got my eye on a few tri-plex/four-plex's - but the deal that appeals to me the most is a 14-unit apartment complex. However, this will be my first multi-family investment property and I'm wondering if I'm biting off more than I could chew this early in the game. The numbers add up, but the numbers are big and its scaring me a little. (Debt service, potential repairs and maintenance costs, insurance, etc.) Am I crazy  to start with a property this size? Should I focus on getting a few smaller deals under my belt first?  

[Rony Mueller]

I'd love to tell you go big if you have the chance, but it depends on your ability to take on the task which will bring success or failure to you. In other words, What is your professional background and which skills do you have to manage such a large apartment building? 

It's an important question to consider, because if you tell me you've been a property manager for 7 years and managed 300 units then what are you waiting for. You will probably apply your knowledge and experience and will be just fine. Not that you don't have a chance to fail. But if you say, "I've been a little league soccer coach all my life" I'd say, well... Consider than you don't know anything about this business and you are more likely fail tremendously.