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Updated about 5 years ago, 10/31/2019
Realistic First Multi-Family Apartment Purchase
Hello BP!
I am working on building my specific criteria for what type of multi-family deals I want to focus on. I am looking for feedback on what number of units is realistic for a first time multi-family purchase. I am in outside sales and have connections to individuals with money. I am not too focused on the money right now, but what it takes in handling a deal and how big becomes too big for a first time buyer or is going big a better way to mitigate risk/ more room for error?
However, I am not trying to go learn on a 150 unit deal right out of the gate. I am thinking 20-30 units as a starting point. From experience, is this an acceptable number to start at or does it seem too high or too low? Looking for any wisdom from other investors to help me lock down my criteria.
Thank you BP!