Scenario: You have a million bucks and looking for a Multi Family

[Manik Sewak]

Lets say you have a million bucks and looking for a Multi Family to invest in. Where do you start? Do you consider many cities and look for the best purchase, or focus on specific area that you know well and settle for the best deal there. When you find one you like, what steps do you take from there? What gets you to the point of actually getting on a flight to see it in person? looking for some rules/guidelines here. Thanks!

[Spencer Gray]

Without knowing your preference for active vs passive I would recommend a diversified approach. Look at investing in 5-10 different syndications with 2-3 different experienced groups. 

The benefits are the ability to scale quickly and removes the learning curve and reduces risk by partnering with professionals who have a proven system. You give up a little return but greatly reduced your downside my not knowing what you don't know. 

Don't look to hit a home run on any, just look to hit singles and doubles.

And as Ivan and Greg mentioned consume as much content on multifamily as you can in order to make the best decisions.

I've take a similar strategy and it has worked very well so myself as the other investors I work with. DM me if you want to know more about how I've built my strategy.