Apartment Complex / Commercial RE Tips

[Rodney Kerley]

Hey everyone! I bought my first home and started house hacking about a year ago now and I'm ready to take the next step, however, I think if I am able, I would like to bypass increasing SFHs in my portfolio and move straight to Apartment Complexes of 6-12 units in the Greater Tampa Bay area or even Orlando/Miami. Right now I am drawing up plans for the investment to include expenses, property managers, real estate lawyers, getting an LLC, building inspectors, sample numbers/projects, vacancy rates, maintenance costs etc... Basically getting everything in place so when I ask for investors, I don't look like an idiot.

What I'm looking for are YOUR experiences with acquiring complexes and some insight from start to finish of the projects. Thank you!

[Taylor L.]

A couple of big missing components from your list include an insurance broker and a lender/mortgage broker. Huge components, particularly in Florida where Insurers are starting to see the climate risk and adjust policies and premiums accordingly.