We liked the idea of partnership on a bigger project with the specific MTR strategy in order to increase NOI and exit in 3-5 years.

Once you have a financial base then invest. 

(If you have not already) read enough books on real estate to increase your knowledge base.

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

There are always ways to increase the value of most homes, but that is also a crap shoot.

Multifamily rentals are a great way to achieve financial freedom, and it sounds like you’re on the right path.My advice?

That said, weigh the cost of renovations against the potential increase in appraisal.

We have a property management company in New Jersey where we make some of our best clients hundreds of thousands of dollars between helping them force appreciation, increase cash flow, finding them deals etc.

That’s a 2.5% increase over 2023 and the strongest sales volume we’ve seen since 2021.

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?