New to MF Seeking Knowledgeable Commercial Agent in Hampton Roads

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Hi! I'm looking for a knowledgeable commercial real estate agent in Hampton Roads area who will help us find great multifamily properties- fourplexes and above- that we can buy and rent out. We already own and rent out many single family homes around the country and now want to start owning small to mid-size apartment complexes in the area. We are located in Isle of Wight County (Carrollton) and are open to any area in Hampton Roads that is up and coming but not in the 'ghetto'/high crime areas. Thanks for any suggestions!

[Brandon Kilbride]

Tiffany Farrow I just focus on flips right now and getting capital built up for apartments. I personally recommend the smallest deal you do when it comes to apartments should be at least 16 units. That's when it becomes worth your time. Plus you can afford having some vacancies because you will almost always have a vacancy. It seems you have a good understanding about what you want though.

This area is very limited when it comes to apartments. Especially 16+ units. Every once and a while one will pop up in norfolk or ocean view area. I haven't been able to find one that meets my standard when it comes to the numbers. Your best bet is to get on Loopnet and call the listing brokers and ask them if they have any other deals off market or anything. You'll want to be casual about it and not seem needy. And yes, 25% is pretty standard. You may be able to get a 80% LTV loan but you'll have to research that more and see what the pros and cons are.