All Forum Posts by: Michael Blank

Multifamily for sure. You mentioned limited financial resources, have you looked into capital-raising skills? Using OPM ( other people's money) opens up your access to better investments. 

Have you considered raising capital so you can increase that $700k budget? That will open up a LOT of options and great opportunities

I started out with single family houses and hated it. Switched to multifamily and everything changed for the better. 

 Very well said!

I assume you are limited to 100k because you are using your own money? 
Have you ever heard of using OPM? ( other people's money) By raising capital, you'll open the door to a much better investment property. 

Happy to share more if you'd find it helpful. 

And bottom line, whether your first property is 100k or 1M, you're on the right path...

Good for you for taking action into your own hands and making a positive outcome.

My first property was also in an area I wasn't familiar with and was D Class. Man oh man was that a brutal experience! 

My first-ever property had what I call a "professional tenant" .... I learned a lot from that experience and have had much better experiences. 

I've helped 19-year-olds become financially free through MF investing, before they bought a house. You don't need prior real estate experience to get into MF, BUT you need to educate yourself and avoid common mistakes. 

What about a duplex or triplex if you're not ready to go in on a larger deal yet? 

I'll warn you that I'm very opinionated about this topic... 

Single family house investing is the dumbest idea I've ever heard.

I can only say that because I've done it ;) 

I flipped 3 dozen houses because I thought it would make me passive income. But it's active because if you're not buying, fixing and selling houses then you're not making money. Once you sell it, the money stops flowing.

Yes, the BRRR method gives you cash flow, but how many houses do you need to get enough passive income to retire from? 50? 100?

With apartment buildings you can achieve financial freedom much faster. For those who are dedicated you can achieve it in as quick as one year. I've seen some people do it in as little as 6 months. 

I can't even count the number of SF investors who switched to MF and achieved financial independence in no time. 

How tragic for that investor. My business partner Garrett Lynch started out with D-class properties in Chicago and he carried an ax with him for safety. He also hired dogs trained in protection. When his property was empty, a person tried to break in and steal the copper pipes, but the dogs chased the introducer into the bathroom and kept him in there until the cops came.