Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

Account Closed
  • Investor
  • Cleveland, OH
147
Votes |
118
Posts

Experiences on moving to bigger buildings from small multi

Account Closed
  • Investor
  • Cleveland, OH
Posted

Hi BP,

I'm looking to tap the enormous amount of knowledge circulating around here. 

For context I live in Boston and own 31 units in the greater Cleveland area (I'll be there this weekend if anyone is around). Currently they are small multis (2-4s). The portfolio is running well and I have a few opportunities to get into a bigger building (20 - 26 units). 

Question - For those of you who have moved from smaller multis to bigger buildings can you share your experience (especially if you are an out of state investor)? I've seen many investors blow up because they underestimate what managing a building like this would entail (This won't be a syndication so I don't have investors to worry about). 

I have several PMs and vendors in Cleveland that I'm confident in and am thinking of a hybrid model where I run the financials through Buildium on my side and have a point person on the ground to ensure I have total transparency on cash movements.

Thanks in advance and I look forward to responses, 

Jeff

Loading replies...