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Updated over 5 years ago on . Most recent reply
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Am I looking for a partner or a mentor?
I have been itching to launch my real estate investment future for far too long now. I have sedated on a number of different avenues to start with, from wholesaling, single-family, small multifamily, and large multi-family. I have been drawn more and more towards commercial multifamily (more than 5 units) and it's brought up personal questions I have to ask myself. The biggest question being, do I need a partner or a mentor?
I've been researching for years and run numbers on hundreds of properties. I've got a few ideas of markets that I'd like to look into, and even selected a few properties within those markets. While I've never invested in real estate, per say, I have owned three homes myself. This gives me the experience that I would need for a single-family investment but not necessarily a large multi-family.
I've been attending real estate meetups and trying to rub elbows with investors in the large multi-family space, but this has proven to be a challenge. So I thought I would ask the BiggerPockets Community for some opinions and insight. I have a stable full-time job which would offer me a better loan package then a new investor, but I don't have the investment credibility or experience that a commercial loan officer would require. Should I be looking for a partner to join up with on a deal, or a mentor that I can simply bounce information off of?
Just to tag some keywords, I would be interested in properties in Georgia, Florida, Alabama, Jacksonville, Tampa, Daytona Beach, vacation rentals and Str in Panama City Beach, 30A, Destin, Atlanta, OTP, I've even found a property I'm interested in in Valdosta Georgia. If anyone has any insight or opinions they think I could benefit from, please let me know.
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Thanks @Sam Teifke for the feedback! I may be taking your advice in the near future and asking you about a property that needs a full reno. I see you're a contractor and may be able to help.
@Kayla Pronesti I'll send you a PM. I just looked at a property in Bradenton the other day and I would like to know your opinion on it. The numbers don't look like they make sense to me as an investment, but you may have another insight on it. On another note, if you're looking to get into commercial, I may have another property that peak your interest.