11 Jan CREPN #126 – Financial Freedom through Multifamily Investing with Michael Blank
Financial Freedom is a common goal of real estate investors. Most start with a single family property, thinking that over time, they will grow their portfolio to provide enough income to give them freedom from working for others. [x_audio_embed][/x_audio_embed] Michael Blank is an engineer turned real estate investor. His experience from single flips and analysis on what it would take to reach his goal led him to the advantages of multifamily investing. Most new investors feel they are unable to pursue multifamily as a real estate investment strategy due to their lack of experience and lack of money.
How to Overcome Your Lack of Experience
- Get some education: Some simple education will prepare you to speak intelligently with brokers and lenders. You can do this for free, or take a course. Without this, you are likely to be identified quickly as a newbie that will not get the help you need from commercial real estate brokers.
- Create a team: Find the most experienced property manager in the market, a respected real estate attorney, etc, and get them on your team. This will provide you instant credibility with local brokers and lenders when you are identified as working with locally known experts.