Acquisition Process and Market Selection Tips ✨

[Jorge Abreu]

Getting into real estate investing is all about nabbing those deals. If you don't have a property to work with, you're pretty much stuck. Sure, managing what you've got is important, but without a deal, you're just spinning your wheels.

Now, when it comes to buying up properties, multi-family ones are a whole different ball game compared to single-family homes. You can't just browse online like you're swiping through a dating app and expect to find what you need. Nope, most of those multi-family listings are in the hands of big-shot brokers who pretty much control the market.

Finding those deals means picking the right place to dive into. I usually recommend focusing on three markets at once. Look for places where people are moving in and jobs are popping up. That's a sign that the market's stable. If a town has over a hundred thousand folks, you're on the right path. It means the market's got some strength behind it.

Checking out a market's past performance is crucial too. I like to dig into the last ten years or so to see how it's been doing. That gives me a good idea of how diverse and resilient it is. And of course, I keep an eye on the last five years to get a more recent take.

Once you've got your sights set on the perfect market, it's time to zoom in and find the hidden gems. That's where crunching numbers and making connections with the locals come in. Sure, look at the data on population, jobs, and rent, but also hit the streets and chat with folks. They've got the inside scoop on those secret spots that don't show up on spreadsheets.

Now, a little advice from my early days in the real estate game: getting your hands dirty and reaching out to sellers and developers is key. It's how I scored our first few deals. Looking back, I realized the importance of sticking to the facts and not letting emotions cloud your judgment.

And don't forget about building relationships. Working with brokers, vendors, and partners is crucial. Brokers, in particular, are like your secret weapon for finding deals and getting insider info. Build that trust, and you'll be the first person they call when something good comes up.

Let's do this!👊