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Updated almost 6 years ago,
Multi-Family Investors - HOW?
Hi BiggerPockets Friends,
I'm a San Diego real estate agent and I manage around 60 or so doors. I lot of 2s, 4s, 6s, a few homes a 7 and a 10. I love real estate and I love when I pick up the rents each month, there are definitely pros and cons but definitely more pros. My questions goes out to successful multi-family investors or anyone who owns multi-family rentals. HOW? How do I get started buying my own properties? If I don't have the money saved up too bad? Should I invest in less desirable cities, states? Should I wait for the market downturn? I have a some money in the bank but my market in San Diego is very high, duplexes go for $300,000 a door sometimes and getting loans are not easy to come by. After a 20-25% down payment your cash flow doesn't even make sense after all the expenses. I always was taught to buy a place where you can kick the tires, but with the prices here in San Diego is it worth it? I would love to one day own 100s even 1000s of units, I would love to have my team of handymen, plumbers, electricians, etc. and I definitely don't mind working 7 days a week if I have to, but it seems with the market I'll never get started. I'll take any advice. I'm hungry. There is many articles on here but I'm tired of researching I want to take action.