Buying and selling real estate

[Matt Schaum]

I am a current landlord in the Central Maryland area.  Currently I have 5 single family rentals. With the help of BP and its contributors, i found ways and the drive to invest in real estate up to this point. I feel like I've hit a bump in the road.  I have a niche in my local area in class B,C neighborhoods with great cashflow.  I feel the need to go larger and invest in either commercial real estate, or multifamily.  I have decent cash reserves, but not a huge amount to buy a valuable commercial property.  Also, I am not fully educated on the ins and outs of the commercial world, therefore, I've leaned back to what I've had success with, Single family rentals.  The problem as everyone knows, is finding decent deals in the current climate.  Inventory in my go to areas are virtually non existent, and what properties are available are priced for non investors.  Im looking for advice on making my next move.  I do not like sitting around and waiting for either deals to come to me, or waiting for the housing market to slow down or produce some inventory.  I would like to raise funds from investors like myself and get into the multifamily rental business or commercial property investing.  I have no experience raising capital for projects like this. As mentioned, I do have cash for investing, have contacted commercial brokers for leads, and have some properties and ideas in mind, but I am sitting at a crossroads.  Invest in small real estate that I know but not available, or try and invest in something I am ignorant in and not enough cash to do solo.  I have also looked into investing in long distance properties, but it seems most listings are sitting at top dollar and not investor friendly.  Also there is the issue of being virtually blind in long distance markets. (i.e. good cash flowing neighborhoods, local regulations, long term appreciation)  Any advice is greatly appreciated.  BP has got me this far in my real estate journey and made me a confident investor.  I want to make the leap to larger deals and/or scale my portfolio.