Need advice for moving to bigger properties

[Matthew T.]

Hi, I am new to this forum and would love to network and pick all of your brains, but on to the topic at hand.

I have been investing in Springfield,MA. Currently my team has bought 80+ units mostly 3 unit buildings and 4 unit buildings but are looking to move into bigger deals.

We focus on helping mostly government aided tenants. There are also many foreclosures in this city which can be picked up for very cheap. After rehab we are generally in for $25k a unit with the average unit renting for $800.

Any advice on how to move into 100+ unit buildings/complexes?

[Matthew T.]

Thank you for your input.

I have not given LO any thought but I might ponder on that.

As for the PHA there is a two year waiting list. Right now I have little to no trouble finding section 8 tenants, especially since we have really built a good name for our company. We are in an LLC and have a couple of them. The best way I found to limit liability was to have great insurance. We have a $1 million policy on each property and then a large umbrella policy.

As for 100 unit financing, I have a few investors and could probably raise $2 million right now. What about government financing for some commercial deals? Are there anything out there?