Chương 3 Thu hẹp khoảng cách Chương 4 Chiến lược vận dụng giá trị | CHAPTER 3 Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened ambition inspired and success achieved. HELEN KELLER Bridging the Gap N . ow that you are sold on the advantages of multifamily property ownership you may be wondering how to get from here to there or how to bridge the gap between single-family and multifamily units. Unless you already have a substantial capital base to work from you will probably want to start with a smaller multifamily complex such as an 8-unit or a 12-unit. You may want to begin even smaller with a duplex or a fourplex. If you have limited experience in the real estate market starting with a smaller building will give you just the experience you need without overwhelming you. This will provide you with an excellent opportunity to get your feet wet and to get some real hands-on experience. 21 THE COMPLETE GUIDE TO BUYING AND SELLING APARTMENT BUILDINGS Strategies In my experience working with other investors and previous clients I have frequently heard statements like Yes Mr. Berges I prefer the buy-and-hold approach. My idea is to buy a property pay it off and live off of the income. Sound familiar While this method of building a real estate portfolio is a valid one it is in my estimation certainly not the best method. If you have another source of income that is fairly substantial and therefore allows you to make large investments in real estate on a periodic basis then this may be the method for you or at least the one that you are most comfortable with. This approach however prevents you from maximizing the utility of your resources. An alternative approach one that I prefer is what I call the value play. This method involves buying a smaller multifamily property such as an 8-unit or a 12-unit that requires limited repairs most of which should be cosmetic. In other words it is the classic fixer-upper. Your mission should you decide to accept it is to initiate
