“Go Big Or Go Home?” Or Start Small and Build Up?

[Maksim Easley]

Hello BP. I am wanting to get into real estate investing, more specifically larger multi family. I have book knowledge and from BP Podcasts but I don’t have any experience yet though and was wondering tips on how I should go about it. Should I start small with single families, small multis, or go straight ahead into 20+ unit multi families? In other words, will owning and operating smaller family homes translate into the larger multi families or is it a completely different game? I don’t want to waste much time in the smaller scale family homes/rentals if the skills don’t necessarily transfer & I’d have to essentially start over from scratch. Just really curious about other people’s thoughts and personal experiences. Thank you in advance!

[Frank Wong]

I knew a guy that used to say go big or go home all the time.  I used to say to him you mean go big or go bankrupt.   Well, he went big and he went bankrupt. True story.  Just know your risk and know what you are getting yourself into. Slow and methodical wins the race. 

Warren Buffet was asked why no one ever copied his investment style and thesis.  He told them because no one wants to get rich slowly. Lesson here.