Duplexes to Apartment building. Is it time?

[Jim Cran]

My wife and I have fixed and flipped seven single-family homes and now own three duplexes using the BRRRR method. I just read Peter Harris’s “Commercial real estate for beginners” and am halfway through “Rich dad, poor dad.” By Robert Kiyosaki, both very inspiring. We are now considering purchasing an apartment building as the next step. I’ve been reading the forums and the common thread seems to be starting out with duplexes and gaining experience to make the move to an apartment building. I’m looking for advice on the next best step, first step, to making the leap from duplexes to an apartment building. We preferred to do it on our own but without ignoring the risk that comes with such a venture. We live in the Cleveland area so prices for apartment buildings are actually reasonable compared to some of the other locations I’ve been reading about on these forums. We want to stay local. Thoughts?

[Mike Dymski]

Go for it.  You will likely find that owning one 10-30 unit property is easier than flipping seven homes.  You have a good track record (flips, rentals, rehab, contractors, leasing, maintenance, management, financing, closings) and are ready for the next step.  If you can generate profitable MF deal flow, you already have the other skills to maintain and manage it.