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Updated over 1 year ago on . Most recent reply
Starting out from residential to CRE, where would u start in units?
Been investing in residential for years. Want to move to commercial properties, will have to invest out of state. So the question is, would you invest in 8 units to start? Or would you go with 12 to 15 for scale and property management, etc. I would assume higher units, cause then you have marketing, expense reduction and management in place. Thoughts? thanks.
Most Popular Reply
these are some awesome responses. @Lucia Rushton You are correct I am now talking to several lenders regarding your response. I am looking for a purchase price of 1M or less. @Mason Weiss Thanks for your input. I would also agree with the units 5-12 is usually a single owner. Hey @Bruce Lynn, to answer your question the market here in Hampton Roads (Va beach and surrounding area) is very compressed. Also the cap rates are really low, 5 - 7 percent. My motvation is appreciation, and cash flow. Trying to scale basically.
Any additional advice is always appreciated. Thanks everyone.