So I stumbled across this site a bit by accident, while looking for reviews on Crexi Intelligence. Their sales guy keeps hounding me to sign up. That said this seems the right place to get some advice. First a little background. I inherited the management and ownership of a few mobile home parks back in 2010, and another in 2014. I Ran these the way My mom and Dad used to and they made out ok. I sold all 4 parks in 2018 and 2019 and upgraded to some commercial investments. I currently hold a State-occupied building worth about 1.8 million and a state funded Medical treatment facility worth about 600k, currently for sale. I recently sold a converted office, which I paid cash for, (Never again,) for about 350k. I'm in a situation where I will have about a million in capital in the next year or so, related to all this, and am not sure what to do with it

Here is the problem. I feel like I have no idea what I'm doing. I get emails from Crexi, scan Loopnet, and generally keep my ear to the ground, but when I look at the market I don't see the opportunity. Cap rates are in the 6's and if you're lucky 7's, but with interest rates in the 7-8% range where is the money to be made? I listen to guys like Grant Cardone talk about these great Multi-Family investments, Dan Pena talking about Making Billions, and have come to the conclusion that I'm not as informed or educated as I thought I was, even though I'm 1 or 2 decent investments from being able to leave my 9-5 and focus on Real Estate permanently. I hear people talking about "building a team." Right now my Team is my wife and I, but mostly just me. I don't even know who should be on this "team." At first I thought maybe it was just imposter syndrome, but the more I learn the more I realize that even though I'm staying afloat, I'm pretty bad at this.

So here is the question: How do I re-start my path in Real estate to change from floating along, to driving results? What does a team look like? where are the opportunities?

Philadelphia, Pennsylvania

2 Votes