Keys to Getting Started in Multifamily Apartment Investing | Real ...

?I want to start investing in apartment complexes. How do I get started??If that is a question you have asked yourself recently, you are not alone.?It?s something I hear on a weekly basis from both new and experienced real estate investors.?They all want to know the keys to get started in multifamily investing the right way.If done correctly, investing in multifamily apartments can be one of the most rewarding and best ways to grow your net worth and increase your income.?However, one of the most important things you need to do when getting started is avoid making big mistakes that can take you years to recover.It is important to get started right.Below are keys to getting starting in multifamily apartment investing.? You can start doing these things today to shorten your learning curve.Educate YourselfThe most important thing you can do as an investor is educate yourself.?Find out all you can about multifamily investments.?Learn how they work. Learn how value is determined.?At first it?s like learning a new language, but with a little practice it will become second nature.?If you are serious about being a successful multifamily investor, it is important to build a strong foundation.?That foundation should be built through your investment education.Evaluate Properties Every DayAfter you have educated yourself on the basics of the industry, including how to evaluate properties, you are ready to take the next step.?One of the best ways to learn about commercial real estate is by actually evaluating as many properties as possible.?Determine what they are worth. Evaluate the areas they are located in and what needs to be done to fix them up.?Figure out what you would pay for them to get your desired return.?My first year in the business, I personally evaluated over 100 investment opportunities, and what I learned was invaluable to my current investment career.Start small, build a strong base, and growThis is where my advice might differ from many of the gurus out there.?We?ve all seen the excited investor run out of a seminar and start telling people how they are going to go out and buy a 150+ unit apartment complex without ever owning a single multifamily property.?It does happen, yes, but that is definitely the exception to the rule.

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