New and still learning.......

[Kathy Merkh]

Hello ~ I currently have a long term rental within minutes from me and just purchased a short term rental out of state.  I'm looking to get into the MF arena but have a lot to learn.  I see people say you'll never learn everything and need to jump in.  My fear though is without learning as much as I can, I'll sound like an idiot and won't get very far.  Also, the short term rental took all of my capital so down payments will be hard.  I did sign up with a mentoring outfit but just feel like I'm putting myself more in debt.  I see and read so many success stories and would love to be one of them - just feeling discouraged right now because I still have to work my 9-5 but am trying to put in the time to make something happen.  So......any stories you more experienced investors can share about just getting started would be greatly appreciated!!!  Sorry for the ramble - just on this roller coaster called life...........

[Bradley Buxton]

@Kathy Merkh

Why invest in multifamily? Does it fit into your long term goals and vision? Or is it something you want to try out? There are pros and cons of MF and there are many successful investors that buy only single family or STRs. Multifamily is also a good asset class to own. Focusing on one asset type or strategy in the beginning is generally most effective than trying to learn an new strategy every year. Many multifamily owners have partners. Going to meet-ups and telling people you are looking to invest in multifamily is good way to find a mentor if you don't want to pay for one. Also what is the rush? In my market in Reno Tahoe, NV the multifamily market is all over the place. There are great values and there are some very high prices. There are still deals but really no rush to jump in. Keep learning and meeting people, work on making your STR as successful as possible and then sell that and find multifamily to invest in. Start small and work your way up.