Starting Small or Diving into an Apartment Building? Help me Decide!
Hey everyone, I'm an aspiring real estate investor with 200k in cash. Recently, I read Brandon Turner's real estate investing book, and now I'm torn between two strategies.
On one hand, I could start small with single-family homes and gradually multiply my investments over the next five years. On the other hand, I could dive right into an apartment building, using my cash as a down payment.
Brandon Turner's strategy suggests starting with multi-family properties for the first few years and then exchanging those for an apartment building. However, his strategy assumes the investor is starting with little or nothing.
Since I already have 200k in cash, I'm wondering if I should skip the multi-family properties and invest directly in an apartment building.
My ultimate goal is to achieve 1M of passive income annually within the next three years. Some might say this is unrealistic, but I'm determined to try.
What do you think? Should I start small or dive right into an apartment building? Any advice or suggestions would be greatly appreciated. Thanks in advance!
Most Popular Reply
as someone who has just started and recently purchased a duplex as my first deal, i would say it is best to start with small multifamily as training at the very least.
You will be shocked by how
much random crap pops up that you did not or could not have in your plans.
If i made the mistakes on a ten unit that i only made on 2 unit… i would be in serious trouble. Now that i am stabilizing a duplex i feel very confident in getting a four or five unit next.
my advice is to cut your teeth, for a little and then you bite off a bigger project.