All Forum Posts by: Terry Wood

This has been great advice I really hope this post helps others as much as it has help me.

Thank you Marshall Downs for such high quality input. 

Your stories are very helpful. I am currently looking to start small with a multiplex which I will move into 1 unit and rent the other(s). At least I am being active and learning. I do think it is best that I to continue to focus on the investment type(s) that will best serve my wealth goals which are mid to large unit apartments and commercial. I see it may be best starting with a stepping stone (SFR) to progress to another world (commercial); as the moon may be a stepping stone in traveling from Earth to Mars, they are still worlds apart. At least in my mind.

Thanks for the input Bryan L. 

Fortunately belief is not a factor of my investment strategy. Of course there is more to loose with bigger properties depending on how much skin you have in it and your level of integrity and dedication to the team and the investment. The point of my discussion is not about maximizing profit but gaining hands on education by working with a team of experienced & knowledgable professionals and leverage their talents to help me hone my focus on more complex investments that are of interest to me.  Risk decreases as knowledge increases. As far as I can gather; Its not money that holds us back, it is fear and lack of knowledge. 

Thank you Serge S., Kristin Meyer, & Justin Knapp for your perspectives and advise. Logic once again rules the day. Start small, minimize risk, grow in knowledge and experience, and network. I'll start small with the big picture in mind every step of the way. 

Thanks again to everyone.

Thank you. I appreciate everyone's input.

I apologize if responding to everyone in one reply is a faux pas. Please let me know if it is.

Arlan Potter made a very valuable point! My interpretation: "paying your due" is not just to learn, gain experience, and develop systems to manage one's investments (REI assets). Most importantly it is to establish a track record and credibility with others that you may want or need on your team.

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Jatin Shah - No problem, butting in is worthy if it elevates the conversation that we may all learn. You never know what insights or criticism (hopefully constructive) you may spark in others.

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Kimberly T. - Thanks for sharing. I can only wish I had not grown up in the dark ages. Being a very late bloomer the urge for efficiency is of high value. Yes, there is an definitely a need to establish experience and credibility. The challenge for me is how to assess which is path is more efficient and effective for me and why? 

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As Anthony G. and Ellis San Jose point out: it depends on one's personal circumstances, resources, a good team, time, skill set, risk tolerance, & resources. Starting small makes logical & reasonable common sense; it expedites the process of being an active investor, gaining certain types of knowledge and experiences for establishing credibility with the community. 

I can get into a multiplex (2-4 units) today or a 50+ unit apartment in 2-3 years. My concern is that though I will be gaining the benefits of starting small; the time, energy and focus that will be required will probably hamper, or possible divert the progress of going for what I logically and intuitively see as a more worthy investment strategy (100+ unit apartments) for myself. To start  with 50 to 100+ unit apartments will require me to increase my knowledge (perhaps CCIM courses), resource options, and find ways to connect with and be of valuable service to and partner with those who are already successful in this niche. I am open to advice, constructive criticism or opinions on the matter.

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Ellis San Jose states "...I have learned what's important to me...  Return on time, Return on capital, Desired Lifestyle."

As far as I'm concerned you hit the nail on the head. (Note to self: research notes as an investment option). Though I am currently convinced that buy and hold mid to large cash flowing apartments (given a great property management team, and tenant & location stability) is probably one of the greatest ways to build and preserve wealth, however I realize there are other options. Thanks for sharing your list of criteria values and identifying your investment vehicles towards your objectives and freedom. "I live for my dreams and a pocket full of gold." 

Hello BP and Apartment aficionados,

I have heard many seasoned investors say start small and grow bigger. I have also heard them say in retrospect they wish they had started from the beginning or at least sooner with 50 to 100+ unit complexes.

If you had to start all over again from scratch which road would you choose and what would your strategy be? 

Please share your background (how you started & where you are today) and any major thing(s) that made the difference for you to step into bigger properties?

Many thanks,

Terry