Hi,
I’m just starting out and would like some advice. My dad is encouraging me to get into multi-unit rentals, and I recently heard David Lindahl teach on this subject. Has anyone been to his Apartment House Riches Bootcamp, and if so any comments? Also, I haven’t yet started with SFH’s and wonder if I should concentrate on that first before getting into apartment buildings.
Thanks,
Schloss
Dave Lindahl has a great strategy for creating “chunks” of cash for down payment captial on apartment houses. I use this strategy. If you want to be very very wealthy you MUST get into apartment complexes. I have not gone to one of his boot camps yet, I am trying to schedual one in. But I will tell you this, I have heard nothing but good news from his students. Schloss, just because you are just starting off does not mean you have to being with SFH. When you go to his bootcamp, he will if you want, partner with you on your first couple deals, he walks you through it and doubles your money back that you spent on the bootcamp! Me personaly I have never rented out nothing smaller than a 2 unit. SFH I rehab and sell, and you the money for a multi-unit property.
Good Luck
Don’t you need to have money set aside for repairs and such, when dealing with rentals? I have heard people recommending having 40K on hand before starting.
Thanks,
Schloss
Yes, it does help to have some repair funds set aside. Some people have a HELOC on their home or have equity in the rental property if need being to tap into.