Making the Jump to Commercial- Scaling Up

[Steve Wilcox]

I am currently a residential flipper, as well as buy and hold investor. My ultimate goal is to be a commercial investor, and I have worked the residential angle as a way to gain experience and build capital.

I use VERY active strategies for acquisition as I have completely bootstrapped my business from the start. I currently am buying multifamily properties with cash and hard money that are very distressed ( 25-50% of ARV), rehabbing, renting and refinancing. I am looking to apply a similar strategy to a larger building and start to 'move up the food chain'.

I am just dipping my toes into the water but I know commercial is much more complicated and a much slower process in terms of closings, ect. I am not sure if I am going to invest local, out of state, how to start finding deals, and generally I don't know what I don't know.

I am hoping some of the more experienced commercial players on BP can give me some guidance on some effective next steps to take.

I belive I am looking for a building no smaller then 10 units, sub $1mil(based on my own personal capital), with some level of distress or value add opportunity so that I can refi my capital out and keep moving.