Multi Family Investment - Wilmington , NC area

[Mike B.]

Hey everyone , I'm new to the forum and i've enjoyed the vast amount of education that Bigger Pockets has to offer . My question is , Im looking for 24-50 Unit Multi-family apartment complexes , the market is over priced and anything that comes up isnt even close to making a 15-22 % ROI . What should I do , save cash and Wait till the market stabilizes a little in a year or 2 ( hopefully ) or invest in a different department like retail commercial that may yield 8-10 % ROI ? I have multiple retail buildings and i have been wanting to invest in larger multi-family units for quite some time . Where should i look for deals , Off market ? Drive areas , look for address and write them ? Contact every Broker ? Loopnet ? I know the answer may be to do all of them but I run a few business and that is my main concern so i cant invest too much time from that and affect my primary income. Any Thoughts

[Ronan Donnelly]

Hi @Mike B., my approach is to find the people who are experts in sourcing deals and to partner with them by providing my expertise in investor relations and I also bring my own capital to deals. You can make it even easier for yourself by investing as a limited partner in a syndicate so that it is entirely passive. You may have to share some of the profits but it is a much faster way to scale.

Some other benefits are:

1) You can spread your risk by investing in multiple deals, geographies and asset classes (Multifamily, self storage, etc.)

2) You are gaining leverage by partnering with people who have got skills, relationships and time that you don’t

Good luck!