I own two small apartment buildings in the Bay Area (seven apartments total). I honestly just saw interest rates were low and thought real estate sounded like a good way to take advantage of that. I didn't know much, so I just found an agent through my local Realtor association and started looking at buildings. From there it's not that complicated - you just build a pretty straightforward model of your income and expenses, estimate conservatively, and pay a price that'll make it profitable. Beyond that just use common sense and don't do things like buy in dangerous areas.
I employ a full time property manager, so I have been a full time employee for most of the time I've owned it.
I own two small apartment buildings in the Bay Area (seven apartments total). I honestly just saw interest rates were low and thought real estate sounded like a good way to take advantage of that. I didn't know much, so I just found an agent through my local Realtor association and started looking at buildings. From there it's not that complicated - you just build a pretty straightforward model of your income and expenses, estimate conservatively, and pay a price that'll make it profitable. Beyond that just use common sense and don't do things like buy in dangerous areas.
I employ a full time property manager, so I have been a full time employee for most of the time I've owned it.