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Updated almost 5 years ago on . Most recent reply

User Stats

60
Posts
29
Votes
Logan Jorns
  • Rental Property Investor
  • Belleville, IL
29
Votes |
60
Posts

Law of the First Deal

Logan Jorns
  • Rental Property Investor
  • Belleville, IL
Posted

In Michael Blank's book - Financial Freedom with Real Estate Investing, Michael talks about the Law of the First Deal. In summary, he states that after completing your first multifamily deal, it is reasonable to expect to be financially free (or close to it) within 2-5 years after completion of your first deal. Essentially, once momentum is built up through your first deal, the subsequent deals that follow are "easier" to complete / grasp, and your career as an investor will exponentially grow from there. 

For those that have experience in multifamily investing (5+ units), do you find this to be true? Was the hardest thing when investing in multifamily overcoming the mental barriers and putting into action all of the information / resources that are out there in order to start investing? Thanks! 

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