I am new to REI and im looking to invest in small apartment complex and hould for 2 years and sell but I get the nervouse about making my first dea…I’m affraid I’ll make a mistake how to over come the fear???

Howdy Islander:

I think we all have those buyer’s remorse thoughts from buying shoes to which insurance company to use to buying small apartment buildings. What if I could have gotten a better deal somewhere else? Is this what I really want to do for the rest of my life? Is she the girl or guy that I want to marry? Decisions are hard to make in all aspects of life. I try to work with what I call “no brainers”. I shop at garage sales and get shirts for a dollar and blue jeans for $5 or less. With this type buying who cares if you make a bad decision, you just toss it and get another one. I too try to buy real estate like this. If I have to think about it too much whether it is a good deal or not I will usually find out that it is not. I just looked at a 4 plex for $90,000 and on the way there I was thinking how great a deal it sounds, I can rent for $550 per unit and make the payments even if two units are vacant. I knew it had to be a deal. The whole street was vacant almost and the two units that were rented at another property were only $450. The ground on the street was such poor soil that the units were leaning so bad that you could hardly stand up in the property without holding on to the walls. I exaggerate a bit but I now knew why it was still for sale and my “no brainer” deal turned into a “no brainer” for sure. You would have to have no brain to buy this building.

When I first started doing deals I did not think like this and would have probably even done this deal as I did worse deals than this even. I just contracted to buy a little duplex for $28,000 that rents for $275 per side but one unit is not rented. So what. The payment will be made with the one rent and the other unit will rent with the return of thousands of soldiers in the next few months. A no brainer no worry deal that I am looking to do 100 times this year by myself and with partners.

We all get cold feet and actually most get cold feet and do not even go look or give up too fast before even finding a deal. Why don’t you post the details of the deal and the members here can help you decide if it is a good deal for you. It does not have to be a “no brainer” to still be a good deal, it just has to feel good like buying a new suit, it has to fit you.


Thanks for the input…I fill better knowing that im not the only one that gets cold feet…when i find that good deal I’ll post details for more input…thanks again

What is small? Do you have one in mind?

The complex im looking at is 10 units in a great location…location location location… ;D