Chris Gates

@Sean O'Dowd There are basically three ways to invest in multifamily. 1 - Personally and solely owned (hard to do unless your last name is Buffet or Gates). 2 - Private fund/REIT and 3 - Syndicate Investors.  2 and 3 are very similar in that you are pooling the money from investors to purchase the investment.  

It is more important that you do it right and keep moving, than being fast out of the gate.

The problem is the community is located in a very single family oriented gated community so therefore most families do the moving during the summer. 

A small benefit is that if I buy the property I can save around $1000 a year in utilities ($500 on this one and $500 on my other plex) because it allows me to open up a gate to another complex and use that properties' under-utilized dumpster.

Neda Navidnia There is a 25 acre piece of land with frontage on Lake Conroe, waterfall, personal boat launch, 2 storage barns, fence with horses, round pen, bass filled pond, gated entrance.

People rent in the ghetto and they rent on the water in a gated community and everything in between.Show me a geographic area anywhere and show me where there are no rentals within 5 miles of that location.

You'll be on the hook for ~$500 (30 yr amortized, 6%, $32000, more if not this favorable) a month right out of the gate, without taxes, maintenance or insurance ... so unless this place is going to rent for a small fortune, it may not be a great first deal.

Being first out of the gate may not be possible but doesn't mean you won't win in the end. 

And you all make some very good pointsBut from what I see with my eyes is that when I drove around Newark and Irvington NJ the other day i was in disbelief mainly because there were some areas that seemed like a location where they shot an episode of the wire and meanwhile 3 blocks away developers are building those ticky tacky 3 story apartment complexes.....Probably gated with a key code and off street parking to keep tenants safe but still not the best thing for the little guys trying to get into the game.