OfflineI have been thinking about this alot, And I think its time to buy my first Multi Unit Property..I Think Im going to start with 100 Unit or less so this will be something I can Handle. After I get to know the ends and outs, I can start to Buy bigger Units...Or I can buy Mutiple Single Family home Just depends on the deal.Just Thought I would throw this out to everyone so, I can get some good feed back or bad let me know if you think 100 unit is to big to start with..I just have alot going on in my mind. It would be nice to hear from the DGers
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Have you ever managed a building before?
Ray
I have been around Commerical Property all my life.
My good friend has Hotels apartment buildings and gas station so I have Picked up alot from him.It will be a Challenge, But that is what I want.
If you are looking at 100 units I am sure you would be using a management company anyway. I certainly would. Having to do anything but collect the monthly checks would take all the fun out of it. Besides you will be looking for other deals, not being a property manager, right?
Good Luck!!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I know you're going to kill it! Congratulations on all your success!
I Exist. I Am That I Am. I Know That I Know.
Michael, I will have a Property Management doing the work for me..I will just look over their shoulder why Im collecting the money...After I find my first property, Im giving myself no more than 24 months and i will find another property but bigger than the first....
Maybe their is a DGer out here that can find me my first big property.
I would love to buy in Florida anywhere but war zones..Willing to look in other states if the deal is to hard to pass up..
Hi,
I'm just getting started but I'm in Palm Beach Co., and I would love to work with someone from DG from the start! PM me and tell me what you are looking for and I will get right on it... I am SO HAPPY...lol
RUN girl RUN!!!
Victoria
From maintaining apartments personally, I think they're a great investment. When you use a Property Management company that collects the rents, deals with tenants, and repairs, it's a lifesaver. The sky is the limit to what you can handle ~ Just know as part of the DG family, we're with you 100%!
"GO FOR IT BROTHER" !!
Thanks Guys, Its Easier when you know you have the DG Family to help out and to talk to...I just started Looking at Bigger Places, Sense Im Just Collecting the Checks it doesnt matter how big I get
I will send you a PM.. I will try to help you all I can
Sounds like a PLAN!...smile
How did you come to the 100 number rather than 75, 50, 200 or whatever?
Rick Allison, Realtor
Amarillo, Texas USA
Find comps, private lenders and cash buyers nationwide: www.TheRealEstate.PRO
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Just a Good round Number..It was Just a Starting Point
I will buy Bigger..
It Is Harder Than I thought To Find the Right Complex to Buy..
I'm working on "special" kind of project,HIGH QUALITY housing for the handicaped people in this area,I'm doing it because i want these people to have quality housing,many are living in unsatisfactory conditions,any suggs,DGERS
I love hear this. I say go for it and never stop. You can handle whatever you want to handle. It sounds like you have great resources to draw from and a good outlook. You should be able to handle a sizeable building and then move on to multiple buildings. Can't wait to hear an update.
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
I am very happy for you, maybe you will teach me too? I live in Conroe TX, haven't done a deal yet.
halina I will do what I can To Help You.. When I first got started I was on the phone and computer from morning to night.. When I started I Hated to talk on the phone but after a little while it came Natural..Just send me a Message and I will do what I can To Help you get your first deal