Stuck at a plateau, need some advice.

[Bennet Sebastian]

Hi BP I've been investing in medical office in Orlando for a few years now. As a broker that's the area I specialized in for many years and an industry sector I know relatively well. However, I'm only doing 1-2 acquisitions a year due to a relatively low inventory of product. I scratch my head wondering what I'm doing wrong when I hear about SFR investors doing 1-2 houses PER WEEK. Granted I probably make more money per deal but I have the capacity to do a lot more deals - both financially and logistically - and I get stir crazy when I'm not working on new projects. So now I've been sitting here (more like wallowing) trying to figure out where to go from here. As I see it, here are my options: 1. Expand into other product types. Professional office would be the closest product but it's not that appealing to me. Senior housing is all the rage and its within the spectrum of healthcare but it's closer to hospitality or multi-family product than it is to medical office and requires operational capabilities that I don't have. That leaves retail, industrial, multi-fam, SFR - none of which I have much experience or competitive advantage in. But there might be an opportunity to convert some of these other uses into medical depending on market factors. That does seem interesting to me. 2. Expand geographically. Being in Orlando allows me to get to Tampa on the west coast or Daytona/Melbourne on the east coast via Interstate 4 in about 90 minutes or less. But those markets, while close in proximity, might as well be in different states when compared to my knowledge of the Orlando market. Plus those areas are not flourishing nearly as well as Orlando so I'm not sure if that makes sense. 3. Expand into new construction. Seems like a lot of fun to me but it also seems much more intimidating than buying and rehabbing existing product. Don't know the first thing about land acquisition and development but I think I could learn this relatively quickly after doing the first one. Financing structures for land and building are also areas that are new and different from rehabs. Much harder to do new construction speculatively like with rehabs. The end user/tenant seems to really drive everything here. Once you have them then the rest will fall into place. I'm sure this post will probably generate more questions than answers due to missing ingredients but I didn't want to write an essay and its late and my hand is starting to cramp typing so much on my iPhone. PS I promise to upgrade to a Pro Account soon. Just been distracted with other stuff and don't make it to the site as often as I should. Thanks in advance for your time and feedback. Sincerely, Bennet

[Ben Leybovich]

You have qualifying guidelines. Stay true to them. If you can, and want to - refine them. But, don't look at others. Play your game. The jury is very much out on people buying 2 houses per week...:)