Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago, 11/22/2021

User Stats

11
Posts
3
Votes
Joel Douglass
  • Greenville, SC
3
Votes |
11
Posts

Looking to Buy My First Multifamily Property - Welcome Advice!!

Joel Douglass
  • Greenville, SC
Posted

Hey BP Family -

I recently ordered Brandon's multifamily real estate book, and as a result I attended his multifamily masterclass (which was free when you bought his books).  I am committed to investing in multifamily, but I feel like I am all over the place trying to figure out where to start.  


I currently have a rental property that has done quite well, and am looking to sell it within the next 3-9 months.  As a result, I will have $100k-150k to invest into a multifamily property (or two).  I am currently struggling with two things - finding deals (as most everyone struggles with apparently) and running numbers.  I have connected with a couple real estate agents, who are sending me multifamily listings, but everything seems to be so inflated right now.  I don't want to buy something just to buy something.  


I'm looking for at least 4 units, up to 8 units.  I feel like I should stay within my local area for my first purchase (I'm in Greenville, SC) and am looking in the upstate of SC.  


My questions are:

Where is the best place to find leads for a 4-8 unit multifamily. We currently can't buy lists for SC (I tried through list source). I am looking for properties that are currently owner managed, and I will use a property manager to manage the property moving forward.  

I've looked at the bigger pockets calculators, and even tried to run numbers on some listing agents have sent me, but I am still struggling to understand if something is "a good deal" or not.  

In all honesty, I don't want to make a mistake. I'm asking for any help/advice you would give to a new investor. I'm all in . . . just need to get the ball rolling. 

Loading replies...