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Updated almost 5 years ago,
Next Step? Join syndication, buy multi-fam, or cont. OOS SFR...?
I'm at a crossroads on what to do next, I get so much info from BP, BP podcasts and other podcasts. I read a lot online on what others are doing and the pros and cons of each choice. With so much information, it really has me mixed on what to look into next. I have a mix of local California SFRs and OOS turn keys (4). In the last year and a half, I bought 4 OOS SFRs (3 turn key and 1 off mls), all are doing good for cash-flow. 2 are in Birmingham, AL and 2 are in Detroit, I am actively looking for the next OOS SFR, the cash flow is hard to pass on.
My dilemna is should I go for the next level up and look into a medium size multi-fam (12-30 units maybe?) in the mid-west, join syndications that open up to much bigger deals, or continue OOS SFRs that cash flow? I like the idea of joining syndications and working with a group with a proven record.
What would a fellow BPer do to scale up their portfolio? I am leaning towards more OOS SFR for adding cash flow (my comfort zone) and/or joining a syndication or two...sometimes too much information and researching is a curse lol