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Updated over 9 years ago,
Need to buy a 15 unit building this week... what will I do wrong?
Well OK I don't need to close this week and I am willing to settle for a 25 unit building I'm not married to 15...
I just got off the phone with one of my mentors. We were talking about the deals I am working on right now and he told me I'm thinking too small and need to get out of my comfort zone a little.
I can identify and buy 3 unit buildings all day long in my market (until I run out of capital at least.) After I run out of capital I can work some creative deals and know how to pull capital out of the properties I have after appreciation or more likely forced equity. This is all stuff I've done and understand.
I don't want to own 3 unit buildings any more. As I make the transition what am I likely to miss in my math and property evaluation as a "small property investor" moving into bigger properties?
My goal for this venture is to establish 25k/month cash flow withing 3 years...