All Forum Posts by: Hubert Washington

The 3 books I read when just beginning and the books that are recommend for others who are just getting started in apartment investing are:

1) ABCs of Real Estate Investing by Ken McElroy
2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro

3) Multi-Family Millions by David Lindhal

I am also currently reading The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges as recommended by another BPer so I would definitely add that one to the list as well.

For someone new, I also recommend reading them in that order as I feel each one is a little more comprehensive than the one before it. That way you can get introduced to the concepts slowly without getting overwhelmed.

@Enmanuel Sanchez

Welcome to the BP community! If you haven't found out already, BP is an AMAZING resource filled with an insane amount of helpful people and information! I also am in the Orange Park / Jacksonville area and am getting started in multifamily / apartment investing. Feel free to connect with me and I would be happy to share what I have learned so far. If you have any interest in the 5+ unit side of the multifamily business, I would encourage you to read:

1) ABCs of Real Estate Investing by Ken McElroy
2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro
3) Multi-Family Millions by David Lindhal

Good luck on your journey and I wish you all the best!

@Craig Moore

Investing in apartments is different than investing in smaller multi-family properties (less than 5 units). If you haven't already, begin educating yourself about the apartment side of multifamily and see if it is for you. I recommend 3 books on the subject:

1) ABCs of Real Estate Investing by Ken McElroy
2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro
3) Multi-Family Millions by David Lindhal

This will give you a good idea of what it takes to invest in apartments. You can determine if it fits with your own personal goals and if you want to start out with smaller multifamily properties first or go straight into apartments. You may also want to read through the great responses from the BP community I received on my post 

1st Investment be in Multifamily/Apartments?

Best of luck you on your journey and let me know if there is anything I can do to help you out!

@Gino Barbaro

Thank you for sharing! I agree with you 100%. I just got back from Tony Robbin's 4 day Unleash The Power Within event last week and it changed my life (for those who have never been, I HIGHLY recommend it). Happiness is a choice that we make not a feeling that we get when things are going great. I realized that I do not have to wait for something particular to happen to be happy. I get to choose to be happy every second of every day no matter what the circumstances are. We all have so much in life to be grateful for and it's really hard not to be happy when you focus on those things. The world becomes an amazing place when you are constantly focusing on the good around you!

@Jack McCarthy

I am also just starting out in apartments as well. So far I have read several great books and the 3 that I would highly recommend are:

1) ABC's of Real Estate Investing by Ken McElroy (don't let the name fool you, it is 100% devoted to apartment investing)

2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro

3) Muilt-Family Millions by David Lindahl (as @John Zoulis @Logan Turner@Ned Carey have already mentioned)

Best of luck on your journey! Feel free to PM me if you want to bounce ideas off of someone who is in a similar position.

@John Cohen

I'm not sure if I should PM you or keep posting here but I have a few follow up questions.

You mentioned "buy, fix, and refinance and do it again" in step 5 of your post. That is exactly what I want to learn to do. How does that factor in with acquiring financing? Is the capital need to fix the property raised along with the down payment or are you fixing the property using the cashflow it is generating?

@Sonya B.

Thank you for starting this discussion! I too am new to REI and am looking to start in small apartments. I have learned some valuable things reading this.

@John Cohen

What's the best way for a first time investor to pick a price point if my plan is to bring on investors? It sounds like it may be challenging to get funding since I have no experience.

@Brenda Whittaker

First off let me say that I am sorry to hear that you are going through this. I wish you the best and hope that everything will turn out positive for you.

Keep in mind that this is only a chapter of your life. Everything up to this point can either be the reason why you couldn't or the reason that you were able to. It is up to you to finish that story.

Trust yourself. It is clear that you have the ability to find great opportunities which is what every investor is trying to do. Now work on the other side of what happens after you acquire the property.

The only advice i would give you is that which I have heard from others, know your exit strategy. It's not a mistake if you miss out on upside to gain a greater return. It is just an opportunity evaluate your exit strategy for a greater risk tolerance that would allow you to capitalize on more of the potential upside.

I agree with @Gino Barbaro. There are no mistakes in life, only lessons.

I look forward to hearing the rest of your story!

~Please know that I am new to REI so take everything I've said with a grain of salt.

@Robert Hetsler

I am also looking for referrals for RE lawyers in the Jax area. I just sent you an email if you don't mind sharing your recommendations with me as well. Thanks!

@Thom H.

Thanks for taking the time to detail the challenges of your first deal. I love your idea of making multiple offers with each one being structured differently. That is a awesome strategy! You have provided some very value information. Thank you again!