All Forum Posts by: Account Closed

Last year I bought my first Multifamily (7 units). My goals this year is to buy a larger apartment building (+16 Units) with my business partner. 

I read a post about someone doing a mastermind group in Mass, and thought heck I would love to go to this if it was in CT.  I thought it would be great to set up a group of other investors that are looking to do the same or something similar. We could use the meetings to discuss deal sourcing, investment criteria, running pro-forma's on current opportunities etc. I learned a ton on the last purchase and any lessons I can share or advice I can use from other investors on this next purchase would be great.

I don't envision this being a large ordeal just a handful of investors who want to throw ideas and whatnot around.

The only prereq would be that you're in the hunt for larger multi-families.

Let me know if any interest.

Keep researching and reading everything you can. Tips on underwriting are good but I would also expand to knowledge about different areas as well (financing, property management, etc). Once you feel as though you can 'take it down' pull trig! You will make a lot of mistakes along the way but you gain knowledge that you simply couldn't have figured out researching on the internet. Every property is obviously different but once you get your first deal under you belt you will be a seasoned vet and really begin to roll in that cash flow 

To get into multifamily with a FHA can be an option but I truly recommend that you wait to save up a little more money first. With your first property you want want some capital reserves because there will undoubtably be some mistakes. I personally made a ton on my fist multifamily. Just some food for thought