How to Bust into Multifamily Apartment buildings?

[Matt Heath]

Hello Everyone,

I currently own one four unit apartment that I purchased for $193,500 and rents for $2300/month. When I bought the proerty it appraised at $217,500. I paid only $3,500 down for the property using an FHA loan. My interest rate is 3.5% with a 30 year fixed loan. I do not plan on selling this since it is such a low rate. I have increased the value of the property by raising the rents. ( when I first bought it rents were $2,085/month). I have the goal to bust into large apartment complexes 5+. I am 25 years old and have 19k in the bank not including 10k in reserves for the property. What are some strategies you use to get into this space? Do I keep buying smaller multi family properties like duplexes and eventually sell to 1031 exchange into higher units? Do you refinance and pull out money? Try to find sellers to do owner financing? What would you do in my situation? How long did it take you to get where you are?

Thank you for your time and responses!