I have enough money to invest in an apartment complex and I'm interested in real estate but I don't want to go in blindly. How should I learn about investing in real estate and getting experience in it?
Join a real estate investor's club if there is one where you are. It's a very good way to learn about being a landlord.
Take some high income investors to lunch. If you can not steal it, do not buy it. Learn what a cap rate is. You want to make at least 18% cap rate on anything you buy. Apt complex is not recommended. Single family homes are the best. This is because of the resale value. Only investors are buying apt complexes.
Join a real estate investing training institute. Some time ago my neighbor recommended me Lee Arnold system for real estate investing training. His a best training institute. I think you join must, if you want success in real estate investing.
There are many ways to make money in real estate. Being a day to day landlord is one of the most frustrating and time consuming. It is not for everybody. Hiring a property manager creates additional problems. Start small, with a single family dwelling or a duplex. You may like it. You may not. (I didn't)
The first real estate I think most people should buy is a place for them to live. An apartment complex is a huge investment and pretty complicated- for most of us it is putting all your eggs in one basket because it would take all or most of our investment money. But if this represents only a fifth or a fourth of your investment money- then maybe so. Talk to trusted friends in your area and ask them for advice if they have done this. Just like any other real estate investment -the location is extremely important. An apartment that is dated can be fixed up- an apartment that is badly located can't be moved.
