Looking in to Multifamily- want advice

[Jerrod James]

Hello BP! My partner and I currently have 1031 money that we want to use on multifamily. Based on the amount we have I believe 5-12 units would make most sense. I would appreciate any advice on next moves for us- i will outline a few details down below.

1031 $ ~ 125k

Own 3 other properties NOT all together (not able to be sold for this project)

Goal- 400k of gross rental income yearly long term

Understand residential model, have looked in to short term rental model.

Ultimately were going to use margin from this deal to spring us in to short term rental game.

I genuinely appreciate all responses thank you!