Moving Forward After Your First Multi-Unit Purchase

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It is no secret that after you do your first multi-unit purchase, you become hungry to get out there and find another great deal. One tip that I have for new investors, especially ones that made their first purchase within the last couple of years, try not to compare or chase after the same numbers as your first deal while you are looking for your next. This is a conversation I have had to have with quite a few clients recently because I always want to set the right expectations and never want to over promise and under deliver. 

During the height of covid we saw some of the lowest rates ever recorded and also there were a ton of places that were selling at a "covid discount" price. With things slowly getting back to normal, the rates have risen a lot and the sellers aren't in the "covid discount" mindset anymore. This doesn't mean that there aren't great deals currently still out there because there are but you don't want to compare the deal got a year or two ago to what you can get now because you'll find yourself stuck in the same place and spinning circles. 

This means you may have to adjust your models and goals a little due to the changes but I don't want you to miss out on a good deal all because it didn't fully stack up to your first one.