Nathan Gesner and Chris Seveney, to start, thank you both for replying to my post. Your concerns are highly noted, and I am happy that you took the time out of your day for me. I must admit I was worried no one would reply (being my first post), and I too share all the stated concerns you both have listed. Your warnings and advice will be shared with my partners.
I realize that my full background was not stated well prior to seeking help and apologize. I have completed a few single/multi-family flips and rental purchases in the past (my definition of "new"), and between a partner and I, have 29 units (majority owned by my partner).
Without trying to justify the big leap into the game, all partners are fully prepared in all aspects to commit to growing our business and be bound to the by-laws of the corp. However, again, I will take your advice and heed your warnings by attempting to slow the scale and make sure our team and systems are optimal. Thank you both.
To place a new question and attempt to continue the conversation, when did you know you were ready for larger multi-family purchases?
