First Multi Unit Purchase

[Merle Darling]

Hi Everyone -- happy to be apart of this community! 

My brother and I are looking to set some realistic goals to obtain a multi unit property within the next 1-3 years, but really don't know where to start. We both own single family homes and want to start our real estate portfolio together. The biggest thing holding us back is money (with most people I think that is the case) and where to look/find a property. We are only 24 and 22, located in Texas and Vermont, but we need some help putting together a plan of action to purchase ideally a 4 unit property in either of those states. Here are the biggest questions we have: 

1. How much is a realistic amount to save? Of course we intend to put 20% down on the property, but I recognize that a lot of investors pay for properties in cash. Are we at that big of a disadvantage in the market if we only put 20% down and are outbid by a more seasoned investor? 

2. What property management companies do people recommend and why?

3. Where do we look? A lot of these types of houses are not on the traditional realtor.com or Zillow, so where should we be looking? 

Ultimately, we are young, hungry, and don't want to sit back on the sidelines for much longer. The biggest thing holding us back is lack of experience and an initial investment. That is why I have come to this community seeking out the answers!

Please let me know your initial thoughts. 

Thanks, 

Merle