Author Topic: 50 unit apartment complex by age 50  (Read 838 times)

clarkfan1979

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50 unit apartment complex by age 50
« on: November 05, 2019, 03:25:20 PM »
I starting reading rental real estate books at age 22. I bought my first rental at age 27. I'm now 40 years old. I have 3 single family homes that are rentals and a primary home. One of the rentals is an unofficial duplex with a separate mother-in-law suite. My step-dad owns a 39-unit. I am going to study his books and ask him questions over the next 6-12 months to start the process.

Would I benefit from trying to do something in the 5-12 unit range around age 45 to get some practice with multi-family before taking the plunge into a 50 unit?


DavidAnnArbor

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Re: 50 unit apartment complex by age 50
« Reply #1 on: November 28, 2019, 08:18:12 AM »
I think if you have such a large building you might need a management company to oversee it.

nancyfrank232

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Re: 50 unit apartment complex by age 50
« Reply #2 on: November 28, 2019, 09:17:46 AM »
I starting reading rental real estate books at age 22. I bought my first rental at age 27. I'm now 40 years old. I have 3 single family homes that are rentals and a primary home. One of the rentals is an unofficial duplex with a separate mother-in-law suite. My step-dad owns a 39-unit. I am going to study his books and ask him questions over the next 6-12 months to start the process.

Would I benefit from trying to do something in the 5-12 unit range around age 45 to get some practice with multi-family before taking the plunge into a 50 unit?

No. Better practice and scale @50 units. If I found a 12 unit vs 50 unit opportunity, I would take the 50 all day. Same work, better scale