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Updated about 8 years ago on . Most recent reply

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Howard C
  • Brooklyn, NY
4
Votes |
24
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How does one scale their business from 10M to 100M?

Howard C
  • Brooklyn, NY
Posted

Hi All,

I have done relatively well for myself and have build a portfolio of over $10M, mostly in the Brooklyn, Queens, and the Jersey City, NJ markets.  The issue that I'm having now is scaling the business from a $10M to say $100M.  How does one do it?  

Without partnering or doing JV how does one grow their business. My capital is always tied up and whenever I have any cash I just dump it into properties. Anybody going through this growing pain as well? If so, how have you handle it and how are you able to scale up?

The only thing I can think of is to obtain a line of credit with banks that will be able to cross collateralized the properties and offer a line of credit, does anybody know of a bank that would do it in the NYC/NJ areas?

Most Popular Reply

User Stats

24
Posts
4
Votes
Howard C
  • Brooklyn, NY
4
Votes |
24
Posts
Howard C
  • Brooklyn, NY
Replied

Michael,

And to answer your question how I got to 10M+ I started by saving up a decent nut and then used the funds towards the down payment to purchase my first property in 2009.  From there, just used several different strategies, like purchase, rehab, cash-out refinance, rinse and redo. The uptick in the NYC market from the past 5 years helped as well as the deals I was seeing back then for 350-400K were now worth 900-1.2M.  It goes without saying it was a lot of hard work and luck, buying in the right areas in the right time, etc.

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