Advising FOR or AGAINST jumping right into Complexes/Commercial
Hi Bigger Pockets,
Long time listener, first time poster. I'm fortunate enough to have a decent amount of personal capital on hand and have been beginning the journey of exploring multi family units in my area. Most of what I've listened to on the pod cast or read are around individuals working their way up to having the capital or leverage to purchase apartment complexes or buildings or to jump into commercial. I've found it difficult to find any pods or info on making the jump straight into purchasing a complex and using a management company. Wondering if anyone has some advice or thoughts on if the best approach is still to start small and go the route of single multi-family homes or single apartments/condos and learn the ropes there first. Thanks!
- Jackie
Most Popular Reply
@Jackie Lankelis
Either way you go, you’re going to need to study and educate yourself about the business. So if that’s the case, then go toward what you really want.
There are plenty of multifamily investors who started with SFRs, myself included, who will tell you that we wish we had gotten into multifamily much sooner. If you’re going to put all the effort necessary to make the deal work, then why not spend that effort purchasing 20, 50, or 100+ doors rather than just 1 door.
Yes, the risk is bigger because the dollars are bigger. But that’s why you educate yourself, and build relationships with people who have gone before you who can help you.