Houston, Texas - Getting into REI

[Larry G. Freeney]

Hey Everyone!

My name is Larry and I live in Houston, Texas. I had a BiggerPockets account that I started two years ago that I never really used. Due to my OCD tendencies, and for the psychological benefit of a fresh start, I created an all new account.

I am a licensed professional counselor, a PhD candidate, a husband, and a new father. I am looking to get into REI with a focus on apartment buildings. I plan to turn my wife's and my actively earned income into appreciating assets. I am here today to connect with individuals who would be willing to help / provide advice or resources to assist me in my endeavors and vice versa.

My current goal is to save 200 to 250K for a down payment on a $1 Million Apartment building. Anyone who has experience in this area, what types of criteria do you use to evaluate a deal? I have a rough estimate for how to do SFH (as I have a really good friend who specializes in this) but am looking to jump into something with a higher entry barrier. Any and alL advice is welcome, especially books, articles, calculators, etc.

my goal is to start with one apartment, buy another every one or two years, and possibly roll it over into a more expensive building (~5 million) using a 1031. Thanks in advance for your thoughts, suggestions, insights, and contributions.