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Updated over 7 years ago on . Most recent reply

User Stats

23
Posts
1
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Jonathan Ruiz
  • Winter Park, FL
1
Votes |
23
Posts

Is it wrong to go BIG for first deal??

Jonathan Ruiz
  • Winter Park, FL
Posted

I have the funds up to $200k. Been loOking up to $1M multi family apartments for a first deal!! Seems more attractive to me than buying a few SFH.

Am I biting off more than I can chew for first deal?! Please any advice would be great 

Most Popular Reply

User Stats

254
Posts
265
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Bruce Petersen
  • Rental Property Investor
  • Austin, TX
265
Votes |
254
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Bruce Petersen
  • Rental Property Investor
  • Austin, TX
Replied

My first deal was a 48 unit, never did single family at all myself.  

Having said that, it's definitely not the easiest route but I'm very glad I did it that way.  I did have someone walking me through the process from beginning to end including the sale a little over 2 years later.

If you have someone to lean on I would always "go big".  The quicker you can develop scale the easier it gets if you do it all yourself (management).  My 300 unit is easier than that 48 unit; I have more and better quality staff to handle all of the day-to-day and I get to just lead the team.

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