Looking for partners for Commercial Real Estate

[Siraj Alsafar]

Hey everyone! I am a Commercial and Residential Realtor from South Florida who has moved to the beautiful Pacific North West aka PNW. 
I have been obsessed with real estate for numerous years I've also spent some time working a couple different areas of Commercial real estate including working on loans/underwriting.

I'm looking to start a portfolio of mid-sized multifamily properties in high rental demand areas that are also in or around ecotourism destinations. We will use local professional highly rated property managers or self manage depending on the deal and it's location. We will "walk" or inspect properties multiple times a year regardless of it's self managed or third party managed.

We will invest in Commercial Real Estate such as mixed use or multifamily buildings, I already have a 28 unit building with owner financing being offered but they want an additional 10% down which is roughly 200k before we can close that deal.

Our strategy is more of a buy and hold, refinance long-term but we will consider 1031 in select situations. We will add value by doing flat-rate utility billbacks where possible, being on top of capex so we can drive rents to a safe but profitable level. In select situations we can consider doing some limited Airbnb to further drive revenue, although most loan companies will not consider that short term income and will choose to ignore it entirely or to underwrite it using the long term lease value.

We're choosing commercial because we can force appreciation through the profitability and income of the property. Where as if you are to buy residential properties i.e. SFH or a 4plex it is valued using a comparable sales approach as in what did the neighbors house sell for? In commercial real estate values are more based on the amount of income the property is generating which is not a factor to consider in residential at all. This means we can potentially scale and refinance easier using CRE if we are able to add value through the income approach.

I'd be happy to discuss what I'm currently working on, to give advice to other people who are getting started in their journey. Let's get this journey started! What's holding you back from getting started if anything?