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Updated over 5 years ago,
Practive finding Good Deals under 10 units?
My personal timeline for REI dictates that I cannot start investing right away.
Since I have plenty of time now, I wanted to practice finding good deals so that when the time comes, I will have a better idea of what kind of investment to pull the trigger on.
I want to buy small or medium multis to start, anything under 10 units. In my area, there a 4 plexes and 6 plexes that aren't too dissimilar in price. I know roughly how you go about evaluating a 1-4 unit, but I don't know if you can apply that criteria to 5+ properties. I've asked around on here and also read that you need to ask around for actual expenses and rent rolls to see if 5+ deals will work.
My biggest concern is that in practicing finding deals I will brand myself as a "tire kicker" who can't close deals. I don't want to be the guy that asks for all this information and doesn't do anything with it. Is that a needless concern? Is there some other way I can practice evaluating 10 units or less without becoming that guy?