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Updated about 6 years ago,
Commercial market is dry , what should I do ? - RE investor
Hey Everyone , My Name is Mike and I'm a little RE Investor.
I typically do Commercial ( multi tenant ) and currently own a few that produce a decent ROI Return ( 20-25% ) . The market I'm in is dry ( Wilmington , NC ) and I'm not a big fan of residential single family or condos . Recently Ive been looking for 20-30 apartment unit complexes but there is little to none in my city which I expected but now I'm looking in NC in general . My question(s) are
1- What are some other venues to look for commercial property ? I currently look at Catylist
2- Any tips on finding and researching out of the city properties ?
3- Apartment complexes , This would be my first apartment complex purchase but what would be some recommendations to locating them , researching , property management , RE Investor Tools to research. I typically buy ( $600K-2mil) type of properties , and Lenders are in place so I'm familiar with the process of a transaction of this type .
4- I want to purchase 1-3 properties per year , and I know its a sellers market but What strategy would you recommend using for finances to keep snowballing the ( BRRR , pulling 2nd Mortgages , using personal cash ) ?