From Single to Multi: Transitioning in Real Estate Investing | Ep. 376

If you're just starting to invest in real estate, you're probably going to start with something small, right? Unless you're Grant Cardone...

Starting small is a great way to dip your toes into the water, before wading into the deep-end. Just like how single family homes are a great way to start investing into real estate. 

What do you do when you're ready to make that transistion, and start getting involved in commercial multifamily real estate? What are the differences?

Here are the three key things you need to know:

First, banks pay more attention to the personal situation of first-time borrowers than seasoned real estate investors. This means first-time borrowers should temper their expectations for their first deal and be prepared for close scrutiny.

Second, multifamily transactions are unlike single-family transactions. You'll be negotiating with one broker who represents both sides, leading to some awkwardness.

Third, managing a multifamily property requires a different system than managing a single-family home. Having a system in place is crucial for success.

So if you're looking to move into commercial real estate, keep these differences in mind and don't forget to do your research. 

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