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Updated about 1 year ago on . Most recent reply
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Starting from Zero Looking for Mentor into Multifamily Invest
Hello, I have been trying to start with it for a while, after review many options and see comments I'm totally lost if are good, or scams (Raul Luna, Peace Morby, Sam freedom, Grant Cardone, Ace Properties, Mel and Dave, Thach Nguyen, Daniel Devis,Tax Lien Wealth, Texas Reias, We buy ugly houses franchisee. Lifestyles unlimited and much more) Always they have some kind of tricks and upsells, additionally that prices are quite higher I would not want to be scammed.
I'm a newbie on it, I want to make it serious many of them says "without a penny from your capital" sounds too good to be true specially when you are new, and with no network on this area like PM, Lawyers, GC, Lenders, Investors etc. Is someone here could give an advice where to start? Outside seems to be a deep sea of marketing and people trying to get your money.
Some says: you should do flipping first, you should do single home first, you should no just do warehouse and flex spaces, forget about plumbing and midnight calls!, you should do storage, etc
My target is multifamily,
My goal is to invest is get some checks every month and create wealth in a long term, but I don't have a clue where to start. Is there someone who can give me an honest advice of a good course or mentor? I'm from zero now and I'm in San Antonio, Texas.
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If your lifestyle supports it, multifamily (house hacking) is a great way to start building wealth. Starting in November you can put 5% down on up to 4 units. Pick an area where fixing up and selling a 4-plex makes sense. The property will need work done to it to make this work.
Purchase the 4-plex and begin to fix the units you are not in and rent those out for their maximum rental amount. After a year or so, fix the one you have been living in and grab an agent who knows how to sell investment properties, list and sell the multifamily (completely renovated 4-plex) with its new cash flow. Multifamily investments sell cash flow, not ARV. It's a 4-plex flip play.
- Trevor Richardson
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