Small Apartment Investing

[Kevin Barnett]

Hello BP Friends,

I'm a new multifamily investor in the Atlanta MSA. I started my real estate investing journey in SFH a few years back and now making the switch to multifamily. In today's market, I find that there is a lot of competition in this space and the deals are harder to come by.

Question...Is anyone investing in small apartment buildings?  If so, how did you find your first deal and how did you finance it?

Thanks in advance!

- Kevin 

[Nathan Gesner]

Quote from @Kevin Barnett:

Hello BP Friends,

I'm a new multifamily investor in the Atlanta MSA. I started my real estate investing journey in SFH a few years back and now making the switch to multifamily. In today's market, I find that there is a lot of competition in this space and the deals are harder to come by.

Question...Is anyone investing in small apartment buildings?  If so, how did you find your first deal and how did you finance it?

Thanks in advance!

- Kevin 

 As you've stated, it's very competitive. In my town, we typically see a couple multi-family properties on the market per year. I don't remember seeing a four-plex for sale in the past 18 months. One came on the market two days ago and there are at least a dozen investors competing for it.

It won't improve any time soon, barring a major change in the market. What you can do is learn how to find off-market deals. This includes driving for dollars, cold calling, direct mail marketing. Search those terms and start learning.