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Updated over 8 years ago,
Starting out - go big? Pittsburgh
So this is my first post on BP but i've been reading topics and stories for months now and have found this community to be very helpful. Just finished up Rich Dad/Poor Dad and now on to Cash Flow Quadrants. Once i'm done with that i plan on reading a few of the Brandon Turner books to get into specifics of real estate investing. My goal is to ultimately build a portfolio of rentals and outsource the management to a PMC.
I recently came across a post from a seller who has 4 properties all on the same street on Pitt's campus that has 25 total rooms. He's listing it for $900k or best offer, says it brings in $100k per year and has 10 years of rental history. Although students might not be the best kind of tenant, i know that the university isn't going anywhere so there should always be a healthy flow of new tenants every year. All of the units are rented out for the next year.
I'd love to go big on an investment like this to start out, but the problem is i'm so early in the process and don't know how i would bring value to an investor. I don't have a team yet (i.e. PMC, accountant, contractors, etc.). Any advice on how i would find an investor and bring value to this? Thank you all for the help.