Residential Investor Looking to Invest in Commercial MultiFamily

[Taylor Shuff]

Hi, My name is Taylor, I live a little south of Nashville, TN.  I'm new to commercial real estate.  I'm Looking into purchasing a multifamily apartment complex with 24 units in middle Tennessee.  Does anyone with experience acquiring and fixing up commercial properties have any advice?  As far as financing the purchase, repairs, and just generally improving the complex and increasing cash flow.  I would greatly appreciate it if someone could spare some time and provide a little wisdom on this topic.  Thanks!

[Matt Aquino]

Congrats @Taylor Shuff ! 

Finding deals that pencil out for a good return are tough in this market. And Tennessee has been pretty hot. 

I think finding a mentor is a good idea. But I might recommend finding an experienced partner who is willing to do the deal with you is a "2 for 1" type of deal.  That person can help walk you through the process and act as a mentor along the way AND they'll be invested in the deal so the level of attention, examples to talk through, and speed of learning can't be matched through a more traditional mentorship. 

Finding a deal, finding a partner, and finding investors -- those are the magic sauces of multifamily. Can't say its easy. But when you find the right ones (of any or all of those), it'll make the whole multifamily game a LOT easier.