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Updated almost 7 years ago on . Most recent reply

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4
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Kyle N.
  • The Woodlands, TX
0
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4
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New member from Idaho Falls, ID

Kyle N.
  • The Woodlands, TX
Posted
My names Kyle, I’m 28 years old and I’m looking to purchase a 4 - 6 unit apartment building in the near future. I have owned a home in the past but I’m currently renting. I work out of state so I’ll need to hire a property manager. Right now my main priority is learning how to analyze a good deal, I’ve spent the last two years watching multi unit apartment buildings come and go on Zillow (in the areas I’m interested in). While I’m not new to forums in general this is my first day on BP. I also wanted to say thank you to everyone who has contributed his or her first hand experience and made this forum into what it is today. Regards,

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19
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8
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Brannan Beasley
  • Investor
  • Idaho Falls, ID
8
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19
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Brannan Beasley
  • Investor
  • Idaho Falls, ID
Replied

Welcome Kyle, always nice to have another investor join up.

I think @Don Spafford gave you good advice all around.  I own a couple 4plexes in the area and they've always been good to me.  It's good that you've spent a lot of time watching the market so you have a feel for what's happening.  That said, don't get paralyzed if you don't have a number for every line in the deal calculators.  After you've analyzed a bunch of deals as best you can, if you see one that you think and feel is a good deal, trust yourself and go for it!  There's no substitute for being in the game, and it's easier than you think.

I manage my units mostly myself since I'm still small, if you end up getting a manager let me know how it goes.

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