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Updated almost 9 years ago,
1-4 units or 5+ to build portfolio
So as of now I own 24 units
19 of them are 1-4 family
one is a commercial property
4 family with a storefront
My lender is telling me to try and go commercial
(5+ units) from now on because it makes it easier to finance and pull out money to put down on other properties
The issue I have with this is that in my area 5+ unit buildings are much more difficult to acquire than the 1-4 family properties.
My plan is to purchase about 8 units every year for the next 4 to 5 years
My question to everyone is do I sit and wait to hopefully acquire One or two 5+ units A year or do I dink and dunk with two to four 1-4 family properties a year?
My strategy I feel is working so far but I went last year waiting for the big one and it never came so therefore I went an entire year without purchasing a property
I cannot allow that to happen again
Any thoughts or suggestions would be greatly appreciated
Thanks
J