EP 205: MINISODE Why You Should NOT Invest in Multifamily
Oct 05, 2021Are you thinking about investing in multifamily properties? While there is a lot of money to be made in this type of investing, it may not be right for you. In today’s episode, your hosts Andresa Guidelli and Liz Faircloth share their reasons why you should NOT use your money to invest in multifamily properties.
Before you begin your investment journey, Liz explains that you need to set clear and concise money goals. Think about where you want to be in 5, 10 and 15 years from now and set your goals with the understanding that multifamily is a long term asset that takes years to generate passive income. Another factor to consider is the barrier to entry in the multifamily realm. In a hot market, new investors are having a difficult time finding and closing deals. Rather than doing what everyone else is doing, Liz suggests creating unique solutions in other types of real estate like affordable housing.
Tune into this week’s episode of The Real Estate InvestHER Show to learn about alternative ways to start your investing business and why multifamily investing may not be the right choice for you.
Quotes
• “The more doors you own doesn't necessarily mean you're going to make more money.” (06:03-06:06)
• “When you buy multifamily, it means a lot of work and if you don’t do your numbers correctly, they may never cashflow.” (07:55-08:01)
• “Multifamily can be great but it is a long term asset.” (08:18-08:20)
• “Observe what people are doing and do something different.” (10:46-10:49)
• “Just because everyone’s investing in multifamily doesn’t mean that's the only thing you can do to make money.” (11:20-11:24)
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