Reached 15 Units Owned...Now What?

[Dante Pirouz]

Over the last 4 years with the help of the amazing BP community, I've been able to build my portfolio to 15 residential units. But I realize that this is still at a "mom and pop" level not big enough to hire a staff, dedicated maintenance team, etc. but big enough that I know I want to grow, quit my full time job and dedicate more of my time to my investment business. It feels like I'm in the bit of a no-man's land at this level...not a newbie but still pretty much a small fry.

So I'd like to ask for some advice from BPers on where I should go next with my business. 

Should I buy a bigger multiunit with commercial financing...is buying a mobile home park a better investment than a traditional multiunit...is a commercial property (strip mall, office building, NNN) a better bet...is it time to look at becoming an HML or buying notes rather than dealing with more toilets...start a property management company and take on clients...heck I'm wondering if buying a franchise business outside of RE is something I should look at?

I know that any and all of these have their pros and cons but I really would like to hear what some of the seasoned BPers believe have worked the best for them in taking their businesses to the next level!

Can't wait to hear your opinions on this!! Thanks!

[Henri Meli]

@Dante Pirouz .  Congratulations on taking action and scaling up to this level. What you should do really depends on what your goals are short term, mid term and long term. When you wake up in the morning, what does your passion.

One thing you can start doing is the process of delegation: Write down the things you perform daily on your business so that someone else can do it (as well as you would do it), while you focus on other things. 

As you grow (which ever direction it is), you want to leave the little stuff to others, while you focus on higher impacts tasks. This step, you should do regardless of which direction you chose to go with your business.  You don' t need to hire a full time staff to perform the work. You can hire freelancers on various sites.